Accounting JAMB

An entry in a subsidiary book which does not form part of the double entry system is a?

A. contra entry
B. single entry
C. journal entry
D. memorandum entry

Correct Answer:

Option D – memorandum entry

Explanation

A memorandum entry is not a complete journal entry because it does not contain debit and credit amounts e.g. stock split which does not affect the common stock account.

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