Post Utme Covenant University 2023 Accounting Question 19

Practice objective / multiple choice question 19 from the 2023 Post Utme Covenant University Accounting examination.

Post Utme Covenant University 2023 Accounting Objective / Multiple Choice
Question 19 POST_UTME_COVENANT_UNIVERSITY • 2023 • ACCOUNTING • objective

A company uses the self-balancing ledger system. The company's ledger account for Sales Revenue shows the following transactions: Debit Sales Revenue 10,000 and Credit Cash 10,000. What is the effect of this transaction on the company's income statement?

Answer Options

A. Increase in Revenue and Increase in Expenses
Correct Answer B. Increase in Revenue and Decrease in Expenses
C. Decrease in Revenue and Increase in Expenses
D. Decrease in Revenue and Decrease in Expenses
Correct Answer
B
Correct Option:
Increase in Revenue and Decrease in Expenses

About This Question

This is Post Utme Covenant University 2023 Accounting Question 19. It is one of the objective questions from the 2023 Post Utme Covenant University Accounting examination.

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