JAMB Accounting 2022 Objective — Question 36

Question 36 of 40 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2022 Objective paper, with the correct answer and a full explanation.

36. An expense account is treated first as

A. (A) Debit an asset account and credit the expense account
B. (B) Debit expense account and credit an asset account
C. (C) Debit profit and loss account and credit to the expense account
D. (D) Debit expense account and credit cash accountCorrect

Explanation

When an expense is incurred, the accounting entry is: Debit expenses account, Credit cash/bank account.

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