An entry in a subsidiary book which does not form part of the double entry...
FINANCIAL
JAMB 2015
An entry in a subsidiary book which does not form part of the double entry system is a
- A. contra entry
- B. single entry
- C. journal entry
- D. memorandum entry
Correct Answer: D. memorandum entry
Explanation
A memorandum entry is not a complete journal entry because it does not contain debit and credit amounts e.g. stock split which does not affect the common stock account
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