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Which of the following is not part of the double-entry system?

Accounts - Principles of Accounts
JAMB 2025

Which of the following is not part of the double-entry system?

  • A. Profit and Loss Account
  • B. Appropriation Account
  • C. Trading Account
  • D. Balance sheet
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Correct Answer: Option D
Explanation

The balance sheet, also called the statement of financial position, shows a business’s assets, liabilities, and capital. It is a financial statement, not a part of the double-entry bookkeeping process.


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