Post Utme Esut 2024 Accounting Question 14

Practice objective / multiple choice question 14 from the 2024 Post Utme Esut Accounting examination.

Post Utme Esut 2024 Accounting Objective / Multiple Choice
Question 14 POST_UTME_ESUT • 2024 • ACCOUNTING • objective

A company uses the double-entry system of accounting. The following transactions are recorded in the journal: Debit Cash ₦10,000 and credit Bank ₦10,000. What is the effect of this transaction on the company's cash balance?

Answer Options

Correct Answer A. The cash balance increases by ₦10,000.
B. The cash balance decreases by ₦10,000.
C. The cash balance remains the same.
D. The cash balance increases by ₦20,000.
Correct Answer
A
Correct Option:
The cash balance increases by ₦10,000.

About This Question

This is Post Utme Esut 2024 Accounting Question 14. It is one of the objective questions from the 2024 Post Utme Esut Accounting examination.

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