Vehicle Purchases – NBC Institute

FA – Nov 2022 – L1 – SA – Q4 – Double-Entry Accounting

Identify the correct entry for a cash purchase of vehicles.

Question

Success Motors bought three Toyota vehicles on cash at the cost of N16,000,000. On debiting the vehicle account, the corresponding credit for the purchase will appear in the
A. Sales day book
B. Purchases day book
C. Payables account
D. Cash book
E. Purchases account

Answer

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Tags: Accounting Records, Cash Transactions, Vehicle Purchases
Level: Level 1

Topic: Double-Entry Accounting Principles
Series: NOV 2022

Question Tag: Vehicle Purchases

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FA – Nov 2022 – L1 – SA – Q4 – Double-Entry Accounting

Identify the correct entry for a cash purchase of vehicles.

FA – Nov 2022 – L1 – SA – Q4 – Double-Entry Accounting

Identify the correct entry for a cash purchase of vehicles.

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Question Tag: Vehicle Purchases

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FA – Nov 2022 – L1 – SA – Q4 – Double-Entry Accounting

Identify the correct entry for a cash purchase of vehicles.

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FA – Nov 2022 – L1 – SA – Q4 – Double-Entry Accounting

Identify the correct entry for a cash purchase of vehicles.

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