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  5. One of the limitatio...

One of the limitations of accounting is that

Accounts - Principles of Accounts
JAMB 2019

One of the limitations of accounting is that

  • A. it ascertain financial position
  • B. it prevent fraud
  • C. transactions are recorded in monetary terms
  • D. it monitor the progress of the enterprise
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Correct Answer: Option C
Explanation

In accounting, all transactions are recorded in monetary terms. There is no other terms of recording transactions except monetary terms.

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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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WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
Your School's Whatsapp Group - Join Us now
Post UTME Past Questions Agent