Post Utme Esut 2020 Accounting Question 30

Practice objective / multiple choice question 30 from the 2020 Post Utme Esut Accounting examination.

Post Utme Esut 2020 Accounting Objective / Multiple Choice
Question 30 POST_UTME_ESUT • 2020 • ACCOUNTING • objective

A company's journal entry for the purchase of equipment on January 1, 2022, is as follows: Debit 24,000 and Credit 24,000. What is the correct accounting treatment for this transaction?

Answer Options

A. Accumulated Depreciation 24,000
Correct Answer B. Equipment 24,000
C. Depreciation Expense 24,000
D. Salvage Value 24,000
Correct Answer
B
Correct Option:
Equipment 24,000

About This Question

This is Post Utme Esut 2020 Accounting Question 30. It is one of the objective questions from the 2020 Post Utme Esut Accounting examination.

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