Post Utme Achievers University 2017 Accounting Question 7

Practice objective / multiple choice question 7 from the 2017 Post Utme Achievers University Accounting examination.

Post Utme Achievers University 2017 Accounting Objective / Multiple Choice
Question 7 POST_UTME_ACHIEVERS_UNIVERSITY • 2017 • ACCOUNTING • objective

A company uses the double-entry system of accounting. The following transactions are recorded in the ledger:

Answer Options

Correct Answer A. The company has made a profit of ₦100,000.
B. The company has made a loss of ₦100,000.
C. The company has increased its assets by ₦100,000.
D. The company has decreased its liabilities by ₦100,000.
Correct Answer
A
Correct Option:
The company has made a profit of ₦100,000.

About This Question

This is Post Utme Achievers University 2017 Accounting Question 7. It is one of the objective questions from the 2017 Post Utme Achievers University Accounting examination.

View More Post Utme Achievers University 2017 Accounting Questions More Post Utme Achievers University Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support