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JAMB Principles of Accounts 2014 Question 8

Question 8

Books of Original Entry

The book of account in which information from the source documents are recorded consist of

  1. A.debit and credit notes.
  2. B.ledger and subsidiary books.
  3. C.prepayments and accruals.
  4. D.profit and loss and balance sheet.
Show the answer and explanation

Answer: B (ledger and subsidiary books.)

Explanation

Source documents are first entered in subsidiary books (journals) and then posted to the ledger.