Post Utme Greenfield University 2017 Accounting Question 13

Practice objective / multiple choice question 13 from the 2017 Post Utme Greenfield University Accounting examination.

Post Utme Greenfield University 2017 Accounting Objective / Multiple Choice
Question 13 POST_UTME_GREENFIELD_UNIVERSITY • 2017 • ACCOUNTING • objective
Post Utme Greenfield University 2017 Accounting Question 13 diagram

A company uses the double-entry system of accounting. The following transactions were recorded during the month of January:

Answer Options

Correct Answer A. Debit Cash ₦10,000, Credit Bank Loan ₦10,000
B. Debit Bank Loan ₦10,000, Credit Cash ₦10,000
C. Debit Cash ₦10,000, Credit Asset Account ₦10,000
D. Debit Liability Account ₦10,000, Credit Cash ₦10,000
Correct Answer
A
Correct Option:
Debit Cash ₦10,000, Credit Bank Loan ₦10,000

About This Question

This is Post Utme Greenfield University 2017 Accounting Question 13. It is one of the objective questions from the 2017 Post Utme Greenfield University Accounting examination.

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