Neco 2019 Financial Accounting Question 20

Practice objective / multiple choice question 20 from the 2019 Neco Financial Accounting examination.

Neco 2019 Financial Accounting Objective / Multiple Choice Easy Difficulty
Question 20 NECO • 2019 • FINANCIAL_ACCOUNTING • objective

Company X purchased office equipment for ₦120,000 cash. Record the journal entry using the double‑entry system.

Answer Options

A. Debit Office Equipment ₦100,000; Credit Cash ₦100,000
B. Debit Cash ₦120,000; Credit Office Equipment ₦120,000
C. Debit Office Equipment ₦120,000; Credit Accounts Payable ₦120,000
Correct Answer D. Debit Office Equipment ₦120,000; Credit Cash ₦120,000
Correct Answer
D
Correct Option:
Debit Office Equipment ₦120,000; Credit Cash ₦120,000

About This Question

This is Neco 2019 Financial Accounting Question 20. It is one of the objective questions from the 2019 Neco Financial Accounting examination.

Difficulty level: Easy .

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