Waec Model Questions Vol1 2023 Financial Accounting Question 13

Practice objective / multiple choice question 13 from the 2023 Waec Model Questions Vol1 Financial Accounting examination.

Waec Model Questions Vol1 2023 Financial Accounting Objective / Multiple Choice Easy Difficulty
Question 13 WAEC_MODEL_QUESTIONS_VOL1 • 2023 • FINANCIAL_ACCOUNTING • objective

On 1 March, XYZ Ltd purchased inventory costing ₦45,000 on credit and paid freight of ₦3,000 in cash. Record the appropriate journal entries.

Answer Options

A. Inventory Dr 48000; Accounts Payable Cr 45000; Cash Dr 3000
Correct Answer B. Inventory Dr 48000; Accounts Payable Cr 45000; Cash Cr 3000
C. Inventory Dr 45000; Accounts Payable Cr 45000; Cash Cr 3000
D. Inventory Dr 48000; Accounts Payable Cr 48000; Cash Cr 0
Correct Answer
B
Correct Option:
Inventory Dr 48000; Accounts Payable Cr 45000; Cash Cr 3000

About This Question

This is Waec Model Questions Vol1 2023 Financial Accounting Question 13. It is one of the objective questions from the 2023 Waec Model Questions Vol1 Financial Accounting examination.

Difficulty level: Easy .

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