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#1 2018-08-07 03:38:21

Muhammad
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بِسمِ اللَّهِ الرَّحمٰنِ الرَّحيمِ
From: Sahiwal Division
Registered: 2012-03-22
Posts: 22,033
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Financial Accounting Quiz MCQs Quiz Question.

Accounting Quizzes Financial Accounting Quiz MCQs

Question:
A building is purchased using cash for use by the business. Which of these would represent the entry for the transaction?

Option A):
Debit the bank accountCredit an expense account
Option B):
Debit a liability accountCredit an expense account
Option C):
Debit an asset accountCredit a sales account
Option D):
Debit an asset accountCredit an asset account

Correct Answer is Option D):
Debit an asset accountCredit an asset account


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2018-08-07 03:38:21

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