WAEC Accounting 2016 Objective — Question 4
Question 4 of 50 from the West African Examinations Council (WAEC) Accounting 2016 Objective paper, with the correct answer and a full explanation.
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4. Nwoye buys stock and pays by cheque. The entries in the books of Nwoye is debit A. Purchase; Credit cheque B. Purchase; Credit bank C. Bank; Credit Purchase D. Cheque; Credit Purchases
- A. Purchase; Credit cheque
- B. Purchase; Credit bankCorrect
- C. Bank; Credit Purchase
- D. Cheque; Credit Purchases
Explanation
The transaction is treated thus: Dr Purchases A/c; Cr Bank A/c.
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