Post Utme Bsu 2018 Accounting Question 5

Practice objective / multiple choice question 5 from the 2018 Post Utme Bsu Accounting examination.

Post Utme Bsu 2018 Accounting Objective / Multiple Choice
Question 5 POST_UTME_BSU • 2018 • ACCOUNTING • objective

A company uses a single-entry system of accounting. The following transactions are recorded in the ledger: Debit Cash ₦10,000, Credit Accounts Payable ₦10,000. What is the effect on the company's cash account?

Answer Options

Correct Answer A. The company's cash account is debited by ₦10,000.
B. The company's cash account is credited by ₦10,000.
C. The company's cash account remains unchanged.
D. The company's cash account is debited by ₦10,000, and the company's accounts payable account is credited by ₦10,000.
Correct Answer
A
Correct Option:
The company's cash account is debited by ₦10,000.

About This Question

This is Post Utme Bsu 2018 Accounting Question 5. It is one of the objective questions from the 2018 Post Utme Bsu Accounting examination.

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