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  3. Accounts - Principles of Accounts
  4. JAMB 2025
  5. Receipts and payment...

Receipts and payments account discloses

Accounts - Principles of Accounts
JAMB 2025

Receipts and payments account discloses

  • A. creditors
  • B. debtors
  • C. capital items
  • D. prepayment
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Correct Answer: Option C
Explanation

Capital items involve the purchase or sale of fixed assets and other long-term investments. These transactions are recorded in the Receipts and Payments account because they involve actual cash flows.

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WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 127076
WAEC offline past questions - with all answers and explanations in one app - Download for free
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