Neco 2023 Financial Accounting Question 14

Practice objective / multiple choice question 14 from the 2023 Neco Financial Accounting examination.

Neco 2023 Financial Accounting Objective / Multiple Choice Easy Difficulty
Question 14 NECO • 2023 • FINANCIAL_ACCOUNTING • objective

On 15\u00a0March\u00a02023 the business purchased office furniture for \u20a545,000 cash. Record the journal entry for this transaction.

Answer Options

A. Debit Office Furniture ₥45,000; Credit Accounts Payable ₥45,000
B. Debit Office Furniture ₥50,000; Credit Cash ₥50,000
C. Debit Cash ₥45,000; Credit Office Furniture ₥45,000
Correct Answer D. Debit Office Furniture \u20a545,000; Credit Cash \u20a545,000
Correct Answer
D
Correct Option:
Debit Office Furniture \u20a545,000; Credit Cash \u20a545,000

About This Question

This is Neco 2023 Financial Accounting Question 14. It is one of the objective questions from the 2023 Neco Financial Accounting examination.

Difficulty level: Easy .

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