JAMB Accounting 2023 Objective — Question 38

Question 38 of 40 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2023 Objective paper, with the correct answer and a full explanation.

The difference between a cashbook and receipt and payment account is A.

A. Cashbook records cash and bank only
B. receipt and payment records cash only
C. receipt and payment account records bank only
D. the cashbook is more detailedCorrect

Explanation

The cashbook is more detailed than the receipt and payment account. (Use the following information to answer question 39-40: Opening 5,000; Purchases 60,000; Sales 100,000.)

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