Neco 2025 Financial Accounting Question 48

Practice objective / multiple choice question 48 from the 2025 Neco Financial Accounting examination.

Neco 2025 Financial Accounting Objective / Multiple Choice Easy Difficulty
Question 48 NECO • 2025 • FINANCIAL_ACCOUNTING • objective

On 1 March, a company bought equipment for \(\)₦250,000 cash and paid an additional \(\)₦50,000 for installation. Record the journal entry using double‑entry bookkeeping.

Answer Options

Correct Answer A. Debit Equipment 300,000; Credit Cash 300,000
B. Debit Equipment 350,000; Credit Cash 350,000
C. Debit Equipment 250,000; Credit Cash 250,000
D. Debit Equipment 300,000; Credit Cash 250,000
Correct Answer
A
Correct Option:
Debit Equipment 300,000; Credit Cash 300,000

About This Question

This is Neco 2025 Financial Accounting Question 48. It is one of the objective questions from the 2025 Neco Financial Accounting examination.

Difficulty level: Easy .

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