Post Utme Mountain Top University 2018 Accounting Question 8

Practice objective / multiple choice question 8 from the 2018 Post Utme Mountain Top University Accounting examination.

Post Utme Mountain Top University 2018 Accounting Objective / Multiple Choice
Question 8 POST_UTME_MOUNTAIN_TOP_UNIVERSITY • 2018 • ACCOUNTING • objective

A government agency is responsible for collecting taxes on behalf of the government. The agency's accounting records show the following transactions:

Answer Options

Correct Answer A. Debit Tax Revenue ₦ 10,000, Credit Cash ₦ 10,000
B. Debit Cash ₦ 10,000, Credit Tax Revenue ₦ 10,000
C. Debit Tax Revenue ₦ 10,000, Credit Accounts Payable ₦ 10,000
D. Debit Accounts Payable ₦ 10,000, Credit Tax Revenue ₦ 10,000
Correct Answer
A
Correct Option:
Debit Tax Revenue ₦ 10,000, Credit Cash ₦ 10,000

About This Question

This is Post Utme Mountain Top University 2018 Accounting Question 8. It is one of the objective questions from the 2018 Post Utme Mountain Top University Accounting examination.

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