Post Utme Christopher University 2024 Accounting Question 21

Practice objective / multiple choice question 21 from the 2024 Post Utme Christopher University Accounting examination.

Post Utme Christopher University 2024 Accounting Objective / Multiple Choice
Question 21 POST_UTME_CHRISTOPHER_UNIVERSITY • 2024 • ACCOUNTING • objective

A company uses the double entry system to record its transactions. If the company purchases office equipment for ₦120,000, what is the effect on the accounting equation?

Answer Options

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

About This Question

This is Post Utme Christopher University 2024 Accounting Question 21. It is one of the objective questions from the 2024 Post Utme Christopher University Accounting examination.

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