Post Utme Elizade University 2019 Accounting Question 5

Practice objective / multiple choice question 5 from the 2019 Post Utme Elizade University Accounting examination.

Post Utme Elizade University 2019 Accounting Objective / Multiple Choice

Question 5 POST_UTME_ELIZADE_UNIVERSITY • 2019 • ACCOUNTING • objective

A company's ledger account shows the following: Debit balance ₦50,000, Credit balance ₦30,000. What is the net effect on the company's equity?

Answer Options

Correct Answer A. Increase in equity

B. Decrease in equity

C. No effect on equity

D. Increase in liabilities

Correct Answer

Correct Option:

Increase in equity

About This Question

This is Post Utme Elizade University 2019 Accounting Question 5. It is one of the objective questions from the 2019 Post Utme Elizade University Accounting examination.

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