JAMB Accounting 2019 Objective — Question 39

Question 39 of 40 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2019 Objective paper, with the correct answer and a full explanation.

Adedibu, a stock broker, bought stationery for ₦12,000 by cash. To record this transaction, debit

A. cash and credit stationery
B. purchases and credit stationery
C. stationery and credit cashCorrect
D. stationery and credit purchases

Explanation

The correct double entry for buying stationery with cash is to debit the stationery account and credit the cash account, reflecting an increase in the stationery asset/expense and a decrease in cash. (Note: the source's stated answer letter did not clearly match this standard double-entry logic — flagged as a possible source inconsistency; the accounting logic itself points to option C.)

Sign up free to unlock

Score tracking
Practice history
Saved questions
Progress dashboard
Personalized sessions
Weak-topic breakdown

…and/or go further with premium services and No Ads.

Create free account

More questions from Accounting 2019 Objective More Accounting past papers