Neco 2020 Financial Accounting Question 44

Practice objective / multiple choice question 44 from the 2020 Neco Financial Accounting examination.

Neco 2020 Financial Accounting Objective / Multiple Choice Easy Difficulty
Question 44 NECO • 2020 • FINANCIAL_ACCOUNTING • objective

On 1 March, a business bought office equipment for ₦250,000 cash and paid ₦30,000 for its delivery. Record the journal entry for this transaction.

Answer Options

A. Office Equipment Dr 250,000; Cash Cr 250,000
B. Office Equipment Dr 280,000; Cash Cr 250,000
C. Office Equipment Dr 310,000; Cash Cr 310,000
Correct Answer D. Office Equipment Dr 280,000; Cash Cr 280,000
Correct Answer
D
Correct Option:
Office Equipment Dr 280,000; Cash Cr 280,000

About This Question

This is Neco 2020 Financial Accounting Question 44. It is one of the objective questions from the 2020 Neco Financial Accounting examination.

Difficulty level: Easy .

View More Neco 2020 Financial Accounting Questions More Neco Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support