Waec Model Questions Vol1 2022 Financial Accounting Question 41

Practice objective / multiple choice question 41 from the 2022 Waec Model Questions Vol1 Financial Accounting examination.

Waec Model Questions Vol1 2022 Financial Accounting Objective / Multiple Choice Easy Difficulty
Question 41 WAEC_MODEL_QUESTIONS_VOL1 • 2022 • FINANCIAL_ACCOUNTING • objective

A business purchased a piece of equipment for ₦150,000 cash. Record the journal entry for this transaction using the double‑entry system.

Answer Options

A. Equipment Cr ₦150,000; Cash Dr ₦150,000
B. Equipment Dr ₦150,000; Cash Dr ₦150,000
Correct Answer C. Equipment Dr ₦150,000; Cash Cr ₦150,000
D. Equipment Dr ₦150,000; Cash Cr ₦100,000
Correct Answer
C
Correct Option:
Equipment Dr ₦150,000; Cash Cr ₦150,000

About This Question

This is Waec Model Questions Vol1 2022 Financial Accounting Question 41. It is one of the objective questions from the 2022 Waec Model Questions Vol1 Financial Accounting examination.

Difficulty level: Easy .

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