Post Utme Greenfield University 2018 Accounting Question 32

Practice objective / multiple choice question 32 from the 2018 Post Utme Greenfield University Accounting examination.

Post Utme Greenfield University 2018 Accounting Objective / Multiple Choice
Question 32 POST_UTME_GREENFIELD_UNIVERSITY • 2018 • ACCOUNTING • objective

A company has the following transactions: Purchased office supplies for 1,000 cash, purchased equipment for 5,000 on credit, and paid 2,000 cash for salaries. What is the net effect on the company's cash balance?

Answer Options

Correct Answer A. 3,000 increase
B. 3,000 decrease
C. 1,000 increase
D. 1,000 decrease
Correct Answer
A
Correct Option:
3,000 increase

About This Question

This is Post Utme Greenfield University 2018 Accounting Question 32. It is one of the objective questions from the 2018 Post Utme Greenfield University Accounting examination.

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support