JAMB Accounting 2009 Objective — Question 31

Question 31 of 50 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2009 Objective paper, with the correct answer and a full explanation.

31. Receipts and payments account is a summary of the

A. budget
B. trading account
C. cash bookCorrect
D. profit and loss account

Explanation

The receipts and payments account is essentially equivalent to the cash book, summarizing all cash received and paid.

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