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JAMB Principles of Accounts 2000 Question 25

Question 25

Incomplete Records

One of the shortcomings of single entry procedures is that

  1. A.a trial balance is not available
  2. B.profits are overestimated
  3. C.there are no subsidiary books
  4. D.there are no control accounts.
Show the answer and explanation

Answer: A (a trial balance is not available)

Explanation

Without double entry there is no trial balance to check arithmetic accuracy.