JAMB Accounting 2023 Objective — Question 27
Question 27 of 40 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2023 Objective paper, with the correct answer and a full explanation.
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The accounts for recording the allotment payment will be A.
- A. allotment and cash accountCorrect
- B. allotment and share capital account
- C. allotment share capital account and cash account
- D. cash account only
Explanation
When payment for allotment is made: Dr. Cash account and Cr: allotment account.
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