JAMB Accounting 2022 Objective — Question 28
Question 28 of 40 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2022 Objective paper, with the correct answer and a full explanation.
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28. The first step in creating double entry for a single entry record is to
- A. (A) open a balance sheetCorrect
- B. (B) determine the balances of each account
- C. (C) collect a bank statement
- D. (D) open a suspense account
Explanation
The first step in converting a single entry into double entry is to open a balance sheet; from it, the opening balances of each account are used to open a double entry.
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