Post Utme Ui 2025 Accounting Question 15

Practice objective / multiple choice question 15 from the 2025 Post Utme Ui Accounting examination.

Post Utme Ui 2025 Accounting Objective / Multiple Choice
Question 15 POST_UTME_UI • 2025 • ACCOUNTING • objective

A company uses the public sector accounting system to record its transactions. If the company receives a grant of ₦100,000 from the government and uses it to purchase office supplies, what is the journal entry?

Answer Options

Correct Answer A. Debit Office Supplies ₦100,000, Credit Grant ₦100,000
B. Debit Office Supplies ₦50,000, Credit Grant ₦50,000
C. Debit Office Supplies ₦100,000, Credit Accounts Payable ₦100,000
D. Debit Office Supplies ₦50,000, Credit Accounts Payable ₦50,000
Correct Answer
A
Correct Option:
Debit Office Supplies ₦100,000, Credit Grant ₦100,000

About This Question

This is Post Utme Ui 2025 Accounting Question 15. It is one of the objective questions from the 2025 Post Utme Ui Accounting examination.

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