Post Utme Eksu 2025 Accounting Question 19

Practice objective / multiple choice question 19 from the 2025 Post Utme Eksu Accounting examination.

Post Utme Eksu 2025 Accounting Objective / Multiple Choice
Question 19 POST_UTME_EKSU • 2025 • ACCOUNTING • objective

A company's balance sheet shows a current liability of ₦50,000 due within 12 months. However, the company's accounting records show that it has paid ₦20,000 of this liability during the year. What is the correct accounting treatment for the remaining liability?

Answer Options

Correct Answer A. ₦30,000 debit to 'Liabilities' and ₦20,000 credit to 'Cash'
B. ₦20,000 debit to 'Liabilities' and ₦30,000 credit to 'Cash'
C. ₦30,000 credit to 'Liabilities' and ₦20,000 debit to 'Cash'
D. ₦20,000 credit to 'Liabilities' and ₦30,000 debit to 'Cash'
Correct Answer
A
Correct Option:
₦30,000 debit to 'Liabilities' and ₦20,000 credit to 'Cash'

About This Question

This is Post Utme Eksu 2025 Accounting Question 19. It is one of the objective questions from the 2025 Post Utme Eksu Accounting examination.

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