Post Utme Veritas University 2019 Accounting Question 26

Practice objective / multiple choice question 26 from the 2019 Post Utme Veritas University Accounting examination.

Post Utme Veritas University 2019 Accounting Objective / Multiple Choice
Question 26 POST_UTME_VERITAS_UNIVERSITY • 2019 • ACCOUNTING • objective

A company has a double-entry system of accounting. The journal entry to record the purchase of goods for ₦50,000 cash is:

Answer Options

Correct Answer A. Debit Purchases 50,000, Credit Cash 50,000
B. Debit Cash 50,000, Credit Purchases 50,000
C. Debit Purchases 50,000, Credit Bank 50,000
D. Debit Bank 50,000, Credit Purchases 50,000
Correct Answer
A
Correct Option:
Debit Purchases 50,000, Credit Cash 50,000

About This Question

This is Post Utme Veritas University 2019 Accounting Question 26. It is one of the objective questions from the 2019 Post Utme Veritas University Accounting examination.

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