Neco 2018 Financial Accounting Question 16

Practice objective / multiple choice question 16 from the 2018 Neco Financial Accounting examination.

Neco 2018 Financial Accounting Objective / Multiple Choice Easy Difficulty

Question 16 NECO • 2018 • FINANCIAL_ACCOUNTING • objective

A business purchased office supplies on credit for \(45,000\) naira. Prepare the journal entry recording this transaction.

A. Debit Office Supplies \(45,000\); Credit Cash \(45,000\)

Correct Answer B. Debit Office Supplies \(45,000\); Credit Accounts Payable \(45,000\)

C. Debit Accounts Payable \(45,000\); Credit Office Supplies \(45,000\)

D. Debit Office Supplies \(40,000\); Credit Accounts Payable \(40,000\)

Correct Answer

Correct Option:

Debit Office Supplies \(45,000\); Credit Accounts Payable \(45,000\)

This is Neco 2018 Financial Accounting Question 16. It is one of the objective questions from the 2018 Neco Financial Accounting examination.

Difficulty level: Easy .

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