Post Utme Afe Babalola University 2017 Accounting Question 5

Practice objective / multiple choice question 5 from the 2017 Post Utme Afe Babalola University Accounting examination.

Post Utme Afe Babalola University 2017 Accounting Objective / Multiple Choice
Question 5 POST_UTME_AFE_BABALOLA_UNIVERSITY • 2017 • ACCOUNTING • objective

A company has the following journal entry: Debit: ₦100,000 Credit: ₦150,000 What is the effect of this journal entry on the company's financial position?

Answer Options

A. Increase in assets and decrease in liabilities
Correct Answer B. Decrease in assets and increase in liabilities
C. Increase in assets and increase in liabilities
D. Decrease in assets and decrease in liabilities
Correct Answer
B
Correct Option:
Decrease in assets and increase in liabilities

About This Question

This is Post Utme Afe Babalola University 2017 Accounting Question 5. It is one of the objective questions from the 2017 Post Utme Afe Babalola University Accounting examination.

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