Post Utme Wellspring University 2025 Accounting Question 19

Practice objective / multiple choice question 19 from the 2025 Post Utme Wellspring University Accounting examination.

Post Utme Wellspring University 2025 Accounting Objective / Multiple Choice
Question 19 POST_UTME_WELLSPRING_UNIVERSITY • 2025 • ACCOUNTING • objective

A public sector organization uses the accrual basis of accounting. If it incurs an expense of ₦100,000 in December but does not pay for it until January, what is the accounting treatment for this expense?

Answer Options

A. Debit expense and credit cash
B. Debit cash and credit expense
Correct Answer C. Debit expense and credit accounts payable
D. Debit accounts payable and credit expense
Correct Answer
C
Correct Option:
Debit expense and credit accounts payable

About This Question

This is Post Utme Wellspring University 2025 Accounting Question 19. It is one of the objective questions from the 2025 Post Utme Wellspring University Accounting examination.

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