Post Utme Ui 2023 Commerce Question 4

Practice objective / multiple choice question 4 from the 2023 Post Utme Ui Commerce examination.

Post Utme Ui 2023 Commerce Objective / Multiple Choice
Question 4 POST_UTME_UI • 2023 • COMMERCE • objective

A sole trader has a business that sells goods to customers. The sole trader uses a cash accounting system. If the sole trader receives ₦10,000 in cash from a customer on 15th February, and the customer's account is credited on 20th February, what is the effect on the sole trader's cash account?

Answer Options

A. The cash account is debited by ₦10,000
Correct Answer B. The cash account is credited by ₦10,000
C. The cash account is not affected
D. The cash account is debited by ₦5,000
Correct Answer
B
Correct Option:
The cash account is credited by ₦10,000

About This Question

This is Post Utme Ui 2023 Commerce Question 4. It is one of the objective questions from the 2023 Post Utme Ui Commerce examination.

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