Post Utme Unilorin 2019 Accounting Question 22

Practice objective / multiple choice question 22 from the 2019 Post Utme Unilorin Accounting examination.

Post Utme Unilorin 2019 Accounting Objective / Multiple Choice
Question 22 POST_UTME_UNILORIN • 2019 • ACCOUNTING • objective

A company uses the following ledger accounts: Cash, Accounts Payable, Sales Revenue, Cost of Goods Sold. Which of the following is a correct journal entry?

Answer Options

A. Debit Cash ₦1,000, Credit Sales Revenue ₦1,000
B. Debit Accounts Payable ₦1,000, Credit Sales Revenue ₦1,000
Correct Answer C. Debit Cost of Goods Sold ₦1,000, Credit Sales Revenue ₦1,000
D. Debit Cash ₦1,000, Credit Accounts Payable ₦1,000
Correct Answer
C
Correct Option:
Debit Cost of Goods Sold ₦1,000, Credit Sales Revenue ₦1,000

About This Question

This is Post Utme Unilorin 2019 Accounting Question 22. It is one of the objective questions from the 2019 Post Utme Unilorin Accounting examination.

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