JAMB Accounting 2020 Objective — Question 34

Question 34 of 40 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2020 Objective paper, with the correct answer and a full explanation.

34. The imprest account, at the end of the year, will be transferred to

A. A. cash accountCorrect
B. B. bank account
C. C. profit and loss account
D. D. ledger account

Explanation

The balance on the imprest at the end of the year will be transferred to the cash book for proper effect.

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