Waec Model Questions Vol1 2021 Financial Accounting Question 50

Practice objective / multiple choice question 50 from the 2021 Waec Model Questions Vol1 Financial Accounting examination.

Waec Model Questions Vol1 2021 Financial Accounting Objective / Multiple Choice Easy Difficulty
Question 50 WAEC_MODEL_QUESTIONS_VOL1 • 2021 • FINANCIAL_ACCOUNTING • objective

A cash sale of goods for ₦150,000 was mistakenly recorded as Debit Sales ₦150,000 and Credit Cash ₦150,000. Identify the error and provide the correct journal entry for this transaction.

Answer Options

Correct Answer A. Cash Dr ₦150,000; Sales Cr ₦150,000
B. Cash Cr ₦150,000; Sales Dr ₦150,000
C. Cash Dr ₦150,000; Sales Dr ₦150,000
D. Cash Cr ₦150,000; Sales Cr ₦150,000
Correct Answer
A
Correct Option:
Cash Dr ₦150,000; Sales Cr ₦150,000

About This Question

This is Waec Model Questions Vol1 2021 Financial Accounting Question 50. It is one of the objective questions from the 2021 Waec Model Questions Vol1 Financial Accounting examination.

Difficulty level: Easy .

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