Gce Model Questions Vol1 2018 Financial Accounting Question 45

Practice objective / multiple choice question 45 from the 2018 Gce Model Questions Vol1 Financial Accounting examination.

Gce Model Questions Vol1 2018 Financial Accounting Objective / Multiple Choice Easy Difficulty
Question 45 GCE_MODEL_QUESTIONS_VOL1 • 2018 • FINANCIAL_ACCOUNTING • objective

Record the transaction: the business purchased inventory on credit for \( \text{₦}20,000 \).

Answer Options

A. Purchases Cr 20000; Accounts Payable Dr 20000
B. Purchases Dr 20000; Accounts Payable Dr 20000
C. Inventory Dr 20000; Accounts Payable Cr 20000
Correct Answer D. Purchases Dr 20000; Accounts Payable Cr 20000
Correct Answer
D
Correct Option:
Purchases Dr 20000; Accounts Payable Cr 20000

About This Question

This is Gce Model Questions Vol1 2018 Financial Accounting Question 45. It is one of the objective questions from the 2018 Gce Model Questions Vol1 Financial Accounting examination.

Difficulty level: Easy .

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