Waec Model Questions Vol1 2024 Financial Accounting Question 34

Practice objective / multiple choice question 34 from the 2024 Waec Model Questions Vol1 Financial Accounting examination.

Waec Model Questions Vol1 2024 Financial Accounting Objective / Multiple Choice Easy Difficulty
Question 34 WAEC_MODEL_QUESTIONS_VOL1 • 2024 • FINANCIAL_ACCOUNTING • objective

A business bought office furniture for ₦250,000 on credit. Record the journal entry for this transaction.

Answer Options

A. Office Furniture Dr ₦250,000; Cash Cr ₦250,000
Correct Answer B. Office Furniture Dr ₦250,000; Accounts Payable Cr ₦250,000
C. Office Furniture Dr ₦200,000; Accounts Payable Cr ₦200,000
D. Office Furniture Cr ₦250,000; Accounts Payable Dr ₦250,000
Correct Answer
B
Correct Option:
Office Furniture Dr ₦250,000; Accounts Payable Cr ₦250,000

About This Question

This is Waec Model Questions Vol1 2024 Financial Accounting Question 34. It is one of the objective questions from the 2024 Waec Model Questions Vol1 Financial Accounting examination.

Difficulty level: Easy .

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