JAMB Accounting 2010 Objective — Question 31
Question 31 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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31. The equivalent of a club's receipts and payments account is the A. trading account B. revenue account C. cash account D. suspense account
- A. trading account
- B. revenue account
- C. cash accountCorrect
- D. suspense account
Explanation
The equivalent of the receipt and payments account of a non-profit organization is the cash A/c of a profit-making organization.
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