JAMB Accounting 2021 Objective — Question 22

Question 22 of 40 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2021 Objective paper, with the correct answer and a full explanation.

22. Which of the items has/have credit balance a. i only b. ii only c. ii and iii d. iii only

A. i only
B. ii onlyCorrect
C. ii and iii
D. iii only

Explanation

Following from question 21, sales (item ii) is income and therefore has a credit balance, while the other items are expenses with debit balances.

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