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JAMB Principles of Accounts 1994 Question 9

Question 9

Double Entry and the Ledger

The use of the folio in the ledger is for

  1. A.referencing purposes
  2. B.particulars of the transaction
  3. C.the account titles
  4. D.only credit items.
Show the answer and explanation

Answer: A (referencing purposes)

Explanation

The folio column records the page or reference number of the other entry, so entries can be traced between books.