The book of account in which information from the source documents are recorded consists of

Assessment: JAMB UTME - Principles of Accounts - 2014 Subject: Financial Accounting

Question 1 Report

The book of account in which information from the source documents are recorded consists of

Answer Details
The book of account in which information from the source documents are recorded consists of ledger and subsidiary books. The ledger is the main book of account, where all transactions are recorded in a systematic manner. Subsidiary books are used to record transactions temporarily before transferring them to the ledger. This way, transactions can be recorded and organized efficiently, making it easier to track financial information and prepare financial statements like the profit and loss statement and the balance sheet.
Read lesson note on Ethics In Accounting (JAMB)
Read lesson note on Cashbook (JAMB)
Read lesson note on Principles Of Double Entry (JAMB)
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