Post Utme Noun 2021 Accounting Question 14

Practice objective / multiple choice question 14 from the 2021 Post Utme Noun Accounting examination.

Post Utme Noun 2021 Accounting Objective / Multiple Choice
Question 14 POST_UTME_NOUN • 2021 • ACCOUNTING • objective

A company uses a double entry system and has the following ledger accounts: assets, liabilities, equity, revenues, and expenses. What is the purpose of the double entry system?

Answer Options

A. To record transactions in a single entry system
Correct Answer B. To record transactions in a double entry system
C. To record transactions in a cash book
D. To record transactions in a journal
Correct Answer
B
Correct Option:
To record transactions in a double entry system

About This Question

This is Post Utme Noun 2021 Accounting Question 14. It is one of the objective questions from the 2021 Post Utme Noun Accounting examination.

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