Post Utme Summit University 2023 Accounting Question 22

Practice objective / multiple choice question 22 from the 2023 Post Utme Summit University Accounting examination.

Post Utme Summit University 2023 Accounting Objective / Multiple Choice
Question 22 POST_UTME_SUMMIT_UNIVERSITY • 2023 • ACCOUNTING • objective

A company's ledger accounts show the following balances:

Answer Options

A. Debit Sales 10,000 and credit Cost of Goods Sold 10,000
Correct Answer B. Debit Cost of Goods Sold 10,000 and credit Sales 10,000
C. Debit Sales 10,000 and credit Accounts Receivable 10,000
D. Debit Accounts Receivable 10,000 and credit Sales 10,000
Correct Answer
B
Correct Option:
Debit Cost of Goods Sold 10,000 and credit Sales 10,000

About This Question

This is Post Utme Summit University 2023 Accounting Question 22. It is one of the objective questions from the 2023 Post Utme Summit University Accounting examination.

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