Post Utme Unn 2024 Accounting Question 29

Practice objective / multiple choice question 29 from the 2024 Post Utme Unn Accounting examination.

Post Utme Unn 2024 Accounting Objective / Multiple Choice
Question 29 POST_UTME_UNN • 2024 • ACCOUNTING • objective

A company has a control account for its cash account. The following transactions affect the cash account: Debit: Cash ₦ 10,000, Credit: Purchases ₦ 10,000. What is the effect of this transaction on the control account?

Answer Options

A. The control account will be debited and the Purchases account will be credited.
B. The control account will be credited and the Purchases account will be debited.
Correct Answer C. The control account will be debited and the Purchases account will be credited, resulting in an increase in the company's assets.
D. The control account will be credited and the Purchases account will be debited, resulting in a decrease in the company's assets.
Correct Answer
C
Correct Option:
The control account will be debited and the Purchases account will be credited, resulting in an increase in the company's assets.

About This Question

This is Post Utme Unn 2024 Accounting Question 29. It is one of the objective questions from the 2024 Post Utme Unn Accounting examination.

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