Post Utme Igbinedion University 2022 Accounting Question 32

Practice objective / multiple choice question 32 from the 2022 Post Utme Igbinedion University Accounting examination.

Post Utme Igbinedion University 2022 Accounting Objective / Multiple Choice
Question 32 POST_UTME_IGBINEDION_UNIVERSITY • 2022 • ACCOUNTING • objective

A company has the following transactions in its trial balance: Debit balance of ₦10,000 and Credit balance of ₦15,000. What is the correct treatment of this transaction in the accounting equation?

Answer Options

A. The transaction is treated as an asset.
B. The transaction is treated as a liability.
Correct Answer C. The transaction is treated as an equity.
D. The transaction is treated as a revenue.
Correct Answer
C
Correct Option:
The transaction is treated as an equity.

About This Question

This is Post Utme Igbinedion University 2022 Accounting Question 32. It is one of the objective questions from the 2022 Post Utme Igbinedion University Accounting examination.

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