Post Utme Al Hikmah University 2025 Accounting Question 38

Practice objective / multiple choice question 38 from the 2025 Post Utme Al Hikmah University Accounting examination.

Post Utme Al Hikmah University 2025 Accounting Objective / Multiple Choice
Question 38 POST_UTME_AL-HIKMAH_UNIVERSITY • 2025 • ACCOUNTING • objective

A company's cash book shows the following transactions: Debit Cash ₦8,000, Credit Accounts Payable ₦4,000, Debit Sales Revenue ₦12,000, Credit Cost of Goods Sold ₦9,000. What is the net effect on the accounting equation?

Answer Options

A. ₦3,000 increase in assets
B. ₦3,000 decrease in liabilities
Correct Answer C. ₦3,000 increase in equity
D. ₦3,000 decrease in assets
Correct Answer
C
Correct Option:
₦3,000 increase in equity

About This Question

This is Post Utme Al Hikmah University 2025 Accounting Question 38. It is one of the objective questions from the 2025 Post Utme Al Hikmah University Accounting examination.

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