In converting single entry to final account; the balancing figures on the income and expenses accounts are transferred to the?

By: |Published on: Dec 7|Categories: Accounting JAMB| 0 comments

A. revenue and expenditure account
B. receipts and payments account
C. profit and loss apporpriation account
D. profit and loss account

Correct Answer:

Option D – profit and loss account

Users Also Read These:

SEE ALSO  The current growth in the volume of trading and financial dealings in Nigerian is helped by?

Copyright warnings! Do not copy.