Waec Model Questions Vol1 2020 Financial Accounting Question 45
Practice objective / multiple choice question 45 from the 2020 Waec Model Questions Vol1 Financial Accounting examination.
During the month the following purchases were made: - Raw materials from Supplier A: invoice ₦45,000, terms 2 % discount if paid within 10 days. - Office supplies from Supplier B: cash purchase ₦12,000. - Machinery from Supplier C: invoice ₦80,000, terms 5 % discount if paid within 60 days. - Inventory from Supplier D: cash purchase ₦30,000. - Freight‑in for the machinery from Supplier C: cash ₦5,000. The company paid Supplier A within the discount period and paid all cash purchases immediately. No discount was taken on the machinery purchase. What total amount was recorded in the cash payments column of the cash book for purchases and related cash outflows for the month?
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About This Question
This is Waec Model Questions Vol1 2020 Financial Accounting Question 45. It is one of the objective questions from the 2020 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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