Post Utme Delsu 2021 Accounting Question 28

Practice objective / multiple choice question 28 from the 2021 Post Utme Delsu Accounting examination.

Post Utme Delsu 2021 Accounting Objective / Multiple Choice
Question 28 POST_UTME_DELSU • 2021 • ACCOUNTING • objective

A company uses the double-entry system of accounting. The following transactions are recorded in the journal: Debit Cash ₦0,000, Credit Accounts Payable ₦0,000. What is the effect of this transaction on the accounting equation?

Answer Options

A. Increases Assets and Decreases Liabilities
Correct Answer B. Increases Liabilities and Decreases Assets
C. Increases Assets and Increases Liabilities
D. Decreases Assets and Decreases Liabilities
Correct Answer
B
Correct Option:
Increases Liabilities and Decreases Assets

About This Question

This is Post Utme Delsu 2021 Accounting Question 28. It is one of the objective questions from the 2021 Post Utme Delsu Accounting examination.

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