Post Utme Uniosun 2022 Accounting Question 1

Practice objective / multiple choice question 1 from the 2022 Post Utme Uniosun Accounting examination.

Post Utme Uniosun 2022 Accounting Objective / Multiple Choice
Question 1 POST_UTME_UNIOSUN • 2022 • ACCOUNTING • objective

A company uses the double entry system to record its transactions. The journal entry for the purchase of a machine for ₦120,000 cash is:

Answer Options

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

About This Question

This is Post Utme Uniosun 2022 Accounting Question 1. It is one of the objective questions from the 2022 Post Utme Uniosun Accounting examination.

View More Post Utme Uniosun 2022 Accounting Questions More Post Utme Uniosun 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