Post Utme Babcock University 2022 Accounting Question 19

Practice objective / multiple choice question 19 from the 2022 Post Utme Babcock University Accounting examination.

Post Utme Babcock University 2022 Accounting Objective / Multiple Choice
Question 19 POST_UTME_BABCOCK_UNIVERSITY • 2022 • ACCOUNTING • objective

A company uses the single-entry system of accounting. The company has the following transactions: debit cash 10,000 and credit accounts payable 10,000. What is the effect of this transaction on the accounting equation?

Answer Options

A. Increases assets and decreases liabilities.
B. Decreases assets and increases liabilities.
C. Increases liabilities and decreases assets.
Correct Answer D. Has no effect on the accounting equation.
Correct Answer
D
Correct Option:
Has no effect on the accounting equation.

About This Question

This is Post Utme Babcock University 2022 Accounting Question 19. It is one of the objective questions from the 2022 Post Utme Babcock University Accounting examination.

View More Post Utme Babcock University 2022 Accounting Questions More Post Utme Babcock 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