Post Utme Mountain Top University 2023 Accounting Question 16

Practice objective / multiple choice question 16 from the 2023 Post Utme Mountain Top University Accounting examination.

Post Utme Mountain Top University 2023 Accounting Objective / Multiple Choice
Question 16 POST_UTME_MOUNTAIN_TOP_UNIVERSITY • 2023 • ACCOUNTING • objective

A company uses the manufacturing account system. The following transactions are recorded: Debit Work-in-Progress ₦30,000, Credit Direct Materials ₦20,000. What is the effect of this transaction on the manufacturing account?

Answer Options

Correct Answer A. Increases Work-in-Progress and Decreases Direct Materials
B. Increases Direct Materials and Decreases Work-in-Progress
C. Increases Assets and Decreases Liabilities
D. Increases Liabilities and Decreases Assets
Correct Answer
A
Correct Option:
Increases Work-in-Progress and Decreases Direct Materials

About This Question

This is Post Utme Mountain Top University 2023 Accounting Question 16. It is one of the objective questions from the 2023 Post Utme Mountain Top University Accounting examination.

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