Post Utme Caleb University 2024 Accounting Question 4

Practice objective / multiple choice question 4 from the 2024 Post Utme Caleb University Accounting examination.

Post Utme Caleb University 2024 Accounting Objective / Multiple Choice

Question 4 POST_UTME_CALEB_UNIVERSITY • 2024 • ACCOUNTING • objective

A company uses the single entry system and has the following transactions: Purchase of goods for ₦50,000, Payment of salaries ₦30,000, Receipt of revenue ₦20,000. What is the net effect on the company's cash balance?

Answer Options

Correct Answer A. ₦20,000 increase

B. ₦30,000 decrease

C. ₦50,000 decrease

D. ₦20,000 decrease

Correct Answer

Correct Option:

₦20,000 increase

About This Question

This is Post Utme Caleb University 2024 Accounting Question 4. It is one of the objective questions from the 2024 Post Utme Caleb University Accounting examination.

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