Given an incomplete record without sufficient information to determine profit; the necessary thing to do is to?

By: |Published on: Dec 8|Categories: Accounting JAMB| 0 comments

A. draw up the statement of affairs
B. draw up a T-account to establish the amount
C. compare the journal entries with the cash book
D. cross-check the cash book for further information

Correct Answer:

Option A – draw up the statement of affairs

Users Also Read These:

SEE ALSO  Which of the following is not charged to Manufacturing Account ________?

Copyright warnings! Do not copy.