Post Utme Esut 2023 Accounting Question 18

Practice objective / multiple choice question 18 from the 2023 Post Utme Esut Accounting examination.

Post Utme Esut 2023 Accounting Objective / Multiple Choice
Question 18 POST_UTME_ESUT • 2023 • ACCOUNTING • objective

A company uses the double-entry system of accounting. If it records a debit of ₦10,000 to 'Accounts Payable' and a credit of ₦10,000 to 'Cash', what is the effect on the company's balance sheet?

Answer Options

A. An increase in assets and a decrease in liabilities
B. A decrease in assets and an increase in liabilities
Correct Answer C. No change in assets or liabilities
D. An increase in liabilities and a decrease in assets
Correct Answer
C
Correct Option:
No change in assets or liabilities

About This Question

This is Post Utme Esut 2023 Accounting Question 18. It is one of the objective questions from the 2023 Post Utme Esut Accounting examination.

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