JAMB Accounting 2014 Objective — Question 26

Question 26 of 50 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2014 Objective paper, with the correct answer and a full explanation.

A book of account that possesses the features of both day-book and ledger is a

A. sales day book
B. cash bookCorrect
C. purchases day book
D. returns day book

Explanation

The cash book is a subsidiary book as well as a ledger. It is subsidiary because it records information straight from source documents, and it is a ledger because it has both debit and credit sides.

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