In converting single entry to final account, the balancing figures on the income and expenses...
FINANCIAL
JAMB 2004
In converting single entry to final account, the balancing figures on the income and expenses accounts are transferred to the?
- A. revenue and expenditure account
- B. receipts and payments account
- C. profit and loss apporpriation account
- D. profit and loss account
Correct Answer: D. profit and loss account
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