Post Utme Uniben 2022 Accounting Question 16

Practice objective / multiple choice question 16 from the 2022 Post Utme Uniben Accounting examination.

Post Utme Uniben 2022 Accounting Objective / Multiple Choice
Question 16 POST_UTME_UNIBEN • 2022 • ACCOUNTING • objective

A government agency received ₦500,000 from the federal government for a project. The agency spent ₦300,000 on materials and ₦100,000 on labor. Prepare a journal entry to record the expenditure.

Answer Options

Correct Answer A. Debit Materials ₦300,000, Debit Labor ₦100,000, Credit Expenditure ₦400,000
B. Debit Materials ₦300,000, Debit Labor ₦100,000, Credit Expenditure ₦400,000
C. Debit Materials ₦300,000, Debit Labor ₦100,000, Credit Expenditure ₦400,000
D. Debit Materials ₦300,000, Debit Labor ₦100,000, Credit Expenditure ₦400,000
Correct Answer
A
Correct Option:
Debit Materials ₦300,000, Debit Labor ₦100,000, Credit Expenditure ₦400,000

About This Question

This is Post Utme Uniben 2022 Accounting Question 16. It is one of the objective questions from the 2022 Post Utme Uniben Accounting examination.

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