Post Utme Lead City University 2017 Accounting Question 15

Practice objective / multiple choice question 15 from the 2017 Post Utme Lead City University Accounting examination.

Post Utme Lead City University 2017 Accounting Objective / Multiple Choice
Question 15 POST_UTME_LEAD_CITY_UNIVERSITY • 2017 • ACCOUNTING • objective

A company uses the single entry system of accounting. The company's cash book shows a balance of ₦100,000. What is the purpose of the single entry system?

Answer Options

Correct Answer A. To simplify the accounting process
B. To reduce the cost of accounting
C. To increase the accuracy of accounting records
D. To reduce the time taken to prepare financial statements
Correct Answer
A
Correct Option:
To simplify the accounting process

About This Question

This is Post Utme Lead City University 2017 Accounting Question 15. It is one of the objective questions from the 2017 Post Utme Lead City University Accounting examination.

View More Post Utme Lead City University 2017 Accounting Questions More Post Utme Lead City University 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