Post Utme Uniport 2025 Accounting Question 40

Practice objective / multiple choice question 40 from the 2025 Post Utme Uniport Accounting examination.

Post Utme Uniport 2025 Accounting Objective / Multiple Choice
Question 40 POST_UTME_UNIPORT • 2025 • ACCOUNTING • objective

A company uses the double-entry system of accounting. If the company purchases an asset for ₦100,000 and pays for it in 3 installments of ₦30,000 each, calculate the journal entry to record the purchase.

Answer Options

A. Asset A/c Dr. ₦100,000, Cash A/c Dr. ₦90,000
B. Asset A/c Dr. ₦100,000, Cash A/c Dr. ₦90,000, Bank A/c Dr. ₦10,000
Correct Answer C. Asset A/c Dr. ₦100,000, Cash A/c Dr. ₦30,000, Bank A/c Dr. ₦70,000
D. Asset A/c Dr. ₦100,000, Cash A/c Dr. ₦30,000, Bank A/c Dr. ₦70,000
Correct Answer
C
Correct Option:
Asset A/c Dr. ₦100,000, Cash A/c Dr. ₦30,000, Bank A/c Dr. ₦70,000

About This Question

This is Post Utme Uniport 2025 Accounting Question 40. It is one of the objective questions from the 2025 Post Utme Uniport Accounting examination.

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