Post Utme Ui 2017 Accounting Question 2

Practice objective / multiple choice question 2 from the 2017 Post Utme Ui Accounting examination.

Post Utme Ui 2017 Accounting Objective / Multiple Choice
Question 2 POST_UTME_UI • 2017 • ACCOUNTING • objective

A company has the following transactions: Purchased raw materials on credit ₥0,000; Sold goods for ₦0,000 cash; and Purchased machinery for ₣0,000 cash. Prepare the journal entries for the above transactions.

Answer Options

A. Debit Raw Materials ₥0,000, Credit Purchases ₥0,000
B. Debit Sales ₦0,000, Credit Cash ₦0,000
C. Debit Machinery ₣0,000, Credit Cash ₣0,000
Correct Answer D. Debit Raw Materials ₥0,000, Credit Purchases ₥0,000; Debit Sales ₦0,000, Credit Cash ₦0,000; Debit Machinery ₣0,000, Credit Cash ₣0,000
Correct Answer
D
Correct Option:
Debit Raw Materials ₥0,000, Credit Purchases ₥0,000; Debit Sales ₦0,000, Credit Cash ₦0,000; Debit Machinery ₣0,000, Credit Cash ₣0,000

About This Question

This is Post Utme Ui 2017 Accounting Question 2. It is one of the objective questions from the 2017 Post Utme Ui Accounting examination.

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