Post Utme Eksu 2023 Accounting Question 2

Practice objective / multiple choice question 2 from the 2023 Post Utme Eksu Accounting examination.

Post Utme Eksu 2023 Accounting Objective / Multiple Choice
Question 2 POST_UTME_EKSU • 2023 • ACCOUNTING • objective

A company uses the double-entry system to record its financial transactions. The double-entry system requires that every transaction be recorded in at least two accounts. Which of the following is a characteristic of the double-entry system?

Answer Options

A. It is a simple system that only requires one account to be recorded
Correct Answer B. It is a complex system that requires at least two accounts to be recorded
C. It is a system that only records cash transactions
D. It is a system that only records credit transactions
Correct Answer
B
Correct Option:
It is a complex system that requires at least two accounts to be recorded

About This Question

This is Post Utme Eksu 2023 Accounting Question 2. It is one of the objective questions from the 2023 Post Utme Eksu Accounting examination.

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