Post Utme Ksu 2023 Accounting Question 3

Practice objective / multiple choice question 3 from the 2023 Post Utme Ksu Accounting examination.

Post Utme Ksu 2023 Accounting Objective / Multiple Choice
Question 3 POST_UTME_KSU • 2023 • ACCOUNTING • objective

A company uses the double-entry system of accounting. If the company purchases a machine for ₦100,000, which of the following journal entries would be recorded?

Answer Options

A. Debit: Machine ₦100,000, Credit: Cash ₦100,000
Correct Answer B. Debit: Machine ₦100,000, Credit: Bank ₦100,000
C. Debit: Bank ₦100,000, Credit: Machine ₦100,000
D. Debit: Cash ₦100,000, Credit: Machine ₦100,000
Correct Answer
B
Correct Option:
Debit: Machine ₦100,000, Credit: Bank ₦100,000

About This Question

This is Post Utme Ksu 2023 Accounting Question 3. It is one of the objective questions from the 2023 Post Utme Ksu Accounting examination.

View More Post Utme Ksu 2023 Accounting Questions More Post Utme Ksu Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support