Post Utme Caleb University 2025 Accounting Question 32

Practice objective / multiple choice question 32 from the 2025 Post Utme Caleb University Accounting examination.

Post Utme Caleb University 2025 Accounting Objective / Multiple Choice
Question 32 POST_UTME_CALEB_UNIVERSITY • 2025 • ACCOUNTING • objective

A company uses the single-entry system of accounting. If the company purchases an asset for ₦40,000, what is the accounting equation after the purchase?

Answer Options

A. Assets = ₦40,000, Liabilities = ₦0, Equity = ₦0
Correct Answer B. Assets = ₦40,000, Liabilities = ₦0, Equity = ₦40,000
C. Assets = ₦0, Liabilities = ₦0, Equity = ₦40,000
D. Assets = ₦0, Liabilities = ₦40,000, Equity = ₦0
Correct Answer
B
Correct Option:
Assets = ₦40,000, Liabilities = ₦0, Equity = ₦40,000

About This Question

This is Post Utme Caleb University 2025 Accounting Question 32. It is one of the objective questions from the 2025 Post Utme Caleb University Accounting examination.

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