The income and expenditure account of a club is the same as

Accounts - Principles of Accounts JAMB 2015

The income and expenditure account of a club is the same as

  • single entry account
  • a profit and loss account checkmark
  • a trading account
  • a cash book

The correct answer is: B

Explanation

this is because the income and expenditure account just like the profit and loss account shows the income to ascertain surplus or deficit.
Previous Question Next Question

Leave A Comment