Income and expenditure account is more detailed than receipts and payments account because it disclosed

Accounts - Principles of Accounts JAMB 2015

Income and expenditure account is more detailed than receipts and payments account because it disclosed

  • cash
  • cheques
  • debtors checkmark
  • stocks

The correct answer is: C

Explanation

the income and expenditure account unlike the receipts and payments takes records of accruals and prepayment
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