JAMB Accounting 2008 Objective — Question 31

Question 31 of 50 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2008 Objective paper, with the correct answer and a full explanation.

Receipts and payments account discloses

A. debtors
B. creditors
C. prepaymentCorrect
D. depreciation

Explanation

Prepayment is an overpayment on goods and this displayed in the cash account, the equivalent of which is receipt and payment account.

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