Post Utme Esut 2020 Accounting Question 5

Practice objective / multiple choice question 5 from the 2020 Post Utme Esut Accounting examination.

Post Utme Esut 2020 Accounting Objective / Multiple Choice
Question 5 POST_UTME_ESUT • 2020 • ACCOUNTING • objective

A company uses the single-entry system. The following transactions are recorded: Debit: ₦100,000 to Cash, ₦50,000 to Accounts Payable, and Credit: ₦150,000 to Sales. What is the net effect on the company's cash balance?

Answer Options

Correct Answer A. ₦50,000 increase
B. ₦50,000 decrease
C. ₦100,000 increase
D. ₦100,000 decrease
Correct Answer
A
Correct Option:
₦50,000 increase

About This Question

This is Post Utme Esut 2020 Accounting Question 5. It is one of the objective questions from the 2020 Post Utme Esut Accounting examination.

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