JAMB Accounting 2010 Objective — Question 18
Question 18 of 50 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2010 Objective paper, with the correct answer and a full explanation.
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18. Benefits enjoyed for which payments have not been made are A. accruals B. prepayments C. acquisitions D. provisions
- A. accrualsCorrect
- B. prepayments
- C. acquisitions
- D. provisions
Explanation
When services have been enjoyed but not yet paid for, this is referred to as accrual; the opposite (paid for but not yet enjoyed) is prepayment.
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