Post Utme Wellspring University 2018 Accounting Question 1

Practice objective / multiple choice question 1 from the 2018 Post Utme Wellspring University Accounting examination.

Post Utme Wellspring University 2018 Accounting Objective / Multiple Choice
Question 1 POST_UTME_WELLSPRING_UNIVERSITY • 2018 • ACCOUNTING • objective

A company uses the double-entry system of accounting. The following transactions occurred during the year:

Answer Options

Correct Answer A. Debit Cash 1,000 and Credit Accounts Payable 1,000
B. Debit Accounts Payable 1,000 and Credit Cash 1,000
C. Debit Cash 1,000 and Credit Accounts Receivable 1,000
D. Debit Accounts Receivable 1,000 and Credit Cash 1,000
Correct Answer
A
Correct Option:
Debit Cash 1,000 and Credit Accounts Payable 1,000

About This Question

This is Post Utme Wellspring University 2018 Accounting Question 1. It is one of the objective questions from the 2018 Post Utme Wellspring University Accounting examination.

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