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JAMB Principles of Accounts 2011 Question 3

Question 3

Trial Balance

In a trial balance, income and liabilities are

  1. A.debited and credited respectively
  2. B.credited
  3. C.credited and debited respectively
  4. D.debited.
Show the answer and explanation

Answer: B (credited)

Explanation

Incomes and liabilities both have credit balances, so both appear on the credit side.