Post Utme Abu 2022 Accounting Question 37

Practice objective / multiple choice question 37 from the 2022 Post Utme Abu Accounting examination.

Post Utme Abu 2022 Accounting Objective / Multiple Choice
Question 37 POST_UTME_ABU • 2022 • ACCOUNTING • objective

A company uses the double-entry system of accounting. The following transactions are recorded in the journal: Debit Cash ₦10,000, Credit Accounts Payable ₦10,000. What is the effect on the accounting equation?

Answer Options

Correct Answer A. Increases Assets, Decreases Liabilities
B. Increases Liabilities, Decreases Assets
C. Increases Equity, Decreases Assets
D. Increases Assets, Increases Liabilities
Correct Answer
A
Correct Option:
Increases Assets, Decreases Liabilities

About This Question

This is Post Utme Abu 2022 Accounting Question 37. It is one of the objective questions from the 2022 Post Utme Abu Accounting examination.

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