JAMB Accounting 2021 Objective — Question 8
Question 8 of 40 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2021 Objective paper, with the correct answer and a full explanation.
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8. While government uses cash basis non-government organisations use a. Cash basis b. Accrual basis c. Referral basis d. Cash and accrual basis
- A. Cash basis
- B. Accrual basisCorrect
- C. Referral basis
- D. Cash and accrual basis
Explanation
Non-government organisations use the accrual basis of accounting in recording their transactions, unlike government which uses the cash basis.
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