Post Utme Caleb University 2019 Accounting Question 14

Practice objective / multiple choice question 14 from the 2019 Post Utme Caleb University Accounting examination.

Post Utme Caleb University 2019 Accounting Objective / Multiple Choice
Question 14 POST_UTME_CALEB_UNIVERSITY • 2019 • ACCOUNTING • objective

A company uses the double entry system to record its transactions. If the company purchases goods worth ₦100,000 on credit, what is the effect on the accounting equation?

Answer Options

A. Assets increase, Liabilities increase
Correct Answer B. Assets increase, Liabilities decrease
C. Assets decrease, Liabilities increase
D. Assets decrease, Liabilities decrease
Correct Answer
B
Correct Option:
Assets increase, Liabilities decrease

About This Question

This is Post Utme Caleb University 2019 Accounting Question 14. It is one of the objective questions from the 2019 Post Utme Caleb University Accounting examination.

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