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  5. The use of three col...

The use of three column cash book is determined by

Accounts - Principles of Accounts
JAMB 2023

The use of three column cash book is determined by

  • A. trade discount
  • B. cash transaction
  • C. bank transaction
  • D. cash discount
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Correct Answer: Option D
Explanation

The cash discount is allowed for prompt payment of an account or for payment within a specified period of time. It is divided into discount allowed and discount received.

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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 Agent
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now