Post Utme Achievers University 2020 Accounting Question 19

Practice objective / multiple choice question 19 from the 2020 Post Utme Achievers University Accounting examination.

Post Utme Achievers University 2020 Accounting Objective / Multiple Choice
Question 19 POST_UTME_ACHIEVERS_UNIVERSITY • 2020 • ACCOUNTING • objective

A company uses the double-entry system of accounting. If the company has a debit balance of ₦100,000 in the 'Accounts Payable' account and a credit balance of ₦200,000 in the 'Accounts Receivable' account, what is the net effect on the company's assets?

Answer Options

A. Increase in assets by ₦100,000
Correct Answer B. Decrease in assets by ₦100,000
C. Increase in assets by ₦100,000
D. Decrease in assets by ₦100,000
Correct Answer
B
Correct Option:
Decrease in assets by ₦100,000

About This Question

This is Post Utme Achievers University 2020 Accounting Question 19. It is one of the objective questions from the 2020 Post Utme Achievers University Accounting examination.

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