Accounts (Principles of Accounts)Accruals, prepayments and provisionsJAMB
December's electricity bill of ₦7,000 was unpaid at 31 December. The correct adjustment is to
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Answer: A. add ₦7,000 to the expense and show ₦7,000 as an accrual
The expense belongs to the year whether paid or not.
An AdmitMe practice question, written for the JAMB syllabus. Not an official past question.