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An entry in a subsidiary book which does not form part of the double entry...

Accounts - Principles of Accounts
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
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Correct Answer: Option D
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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Project Topics and Materials, Post-UTME past questions - Download now or upload yours to get paid
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
Project Topics and Materials, Post-UTME past questions - Download now or upload yours to get paid
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NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789