Post Utme Summit University 2023 Accounting Question 18

Practice objective / multiple choice question 18 from the 2023 Post Utme Summit University Accounting examination.

Post Utme Summit University 2023 Accounting Objective / Multiple Choice
Question 18 POST_UTME_SUMMIT_UNIVERSITY • 2023 • ACCOUNTING • objective

A company uses the double-entry system of accounting. The following transactions occurred during the month of January:

Answer Options

A. Debit Cash 1,000 and credit Accounts Payable 1,000
Correct Answer B. Debit Accounts Payable 1,000 and credit Cash 1,000
C. Debit Cash 1,000 and credit Accounts Receivable 1,000
D. Debit Accounts Receivable 1,000 and credit Cash 1,000
Correct Answer
B
Correct Option:
Debit Accounts Payable 1,000 and credit Cash 1,000

About This Question

This is Post Utme Summit University 2023 Accounting Question 18. It is one of the objective questions from the 2023 Post Utme Summit University Accounting examination.

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