Post Utme Eksu 2022 Accounting Question 17

Practice objective / multiple choice question 17 from the 2022 Post Utme Eksu Accounting examination.

Post Utme Eksu 2022 Accounting Objective / Multiple Choice

Question 17 POST_UTME_EKSU • 2022 • ACCOUNTING • objective

A company has the following transactions: Purchased goods for ₦1,500 on credit; Sold goods for ₦2,000 for cash; and Purchased a machine for ₦3,000 on credit. Prepare a single entry for the above transactions.

Correct Answer A. Debit Purchases ₦1,500, Credit Cash ₦2,000, Debit Machine ₦3,000, Credit Purchases ₦3,000

B. Debit Purchases ₦1,500, Credit Cash ₦2,000, Debit Machine ₦3,000, Credit Purchases ₦1,500

C. Debit Purchases ₦1,500, Credit Cash ₦2,000, Debit Machine ₦3,000, Credit Purchases ₦2,000

D. Debit Purchases ₦1,500, Credit Cash ₦2,000, Debit Machine ₦3,000, Credit Purchases ₦1,000

Correct Answer

Correct Option:

Debit Purchases ₦1,500, Credit Cash ₦2,000, Debit Machine ₦3,000, Credit Purchases ₦3,000

This is Post Utme Eksu 2022 Accounting Question 17. It is one of the objective questions from the 2022 Post Utme Eksu Accounting examination.

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