JAMB Accounting 2016 Objective — Question 28

Question 28 of 40 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2016 Objective paper, with the correct answer and a full explanation.

28. The instrument used in analysis and interpretation of financial statement is the (a) income and expenditure extract (b) account in integrations (c) balance sheet extract (d) fund accounting

A. income and expenditure extract
B. account in integrations
C. balance sheet extractCorrect
D. fund accounting

Explanation

Balance sheet gives the summary of balances. It is usually used to analyse the financial statement.

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