Post Utme Uniben 2022 Accounting Question 13

Practice objective / multiple choice question 13 from the 2022 Post Utme Uniben Accounting examination.

Post Utme Uniben 2022 Accounting Objective / Multiple Choice
Question 13 POST_UTME_UNIBEN • 2022 • ACCOUNTING • objective

A government agency received ₦1,000,000 from the federal government for a project. The agency spent ₦800,000 on materials and ₦150,000 on labor. Prepare a journal entry to record the expenditure.

Answer Options

Correct Answer A. Debit Materials ₦800,000, Debit Labor ₦150,000, Credit Expenditure ₦950,000
B. Debit Materials ₦800,000, Debit Labor ₦150,000, Credit Expenditure ₦950,000
C. Debit Materials ₦800,000, Debit Labor ₦150,000, Credit Expenditure ₦950,000
D. Debit Materials ₦800,000, Debit Labor ₦150,000, Credit Expenditure ₦950,000
Correct Answer
A
Correct Option:
Debit Materials ₦800,000, Debit Labor ₦150,000, Credit Expenditure ₦950,000

About This Question

This is Post Utme Uniben 2022 Accounting Question 13. It is one of the objective questions from the 2022 Post Utme Uniben Accounting examination.

View More Post Utme Uniben 2022 Accounting Questions More Post Utme Uniben Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support