Post Utme Uniben 2017 Accounting Question 1

Practice objective / multiple choice question 1 from the 2017 Post Utme Uniben Accounting examination.

Post Utme Uniben 2017 Accounting Objective / Multiple Choice
Question 1 POST_UTME_UNIBEN • 2017 • ACCOUNTING • objective

A company uses the double entry system to record the following transactions: Purchased office equipment for ₦120,000 cash. Record the transaction in the ledger, assuming the office equipment is an asset.

Answer Options

A. Debit Office Equipment ₦120,000, Credit Cash ₦120,000
Correct Answer B. Debit Cash ₦120,000, Credit Office Equipment ₦120,000
C. Debit Office Equipment ₦120,000, Credit Bank ₦120,000
D. Debit Bank ₦120,000, Credit Office Equipment ₦120,000
Correct Answer
B
Correct Option:
Debit Cash ₦120,000, Credit Office Equipment ₦120,000

About This Question

This is Post Utme Uniben 2017 Accounting Question 1. It is one of the objective questions from the 2017 Post Utme Uniben Accounting examination.

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