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JAMB Principles of Accounts 2005 Question 1

Question 1

Introduction to Accounting

The double entry principle of accounting was developed by

  1. A.Frank Wood
  2. B.Luca Pacioli
  3. C.Akintola Williams
  4. D.William Pickles
Show the answer and explanation

Answer: B (Luca Pacioli)

Explanation

The Italian monk Luca Pacioli first published the double entry system in 1494.