Post Utme Lautech 2019 Accounting Question 4
Practice objective / multiple choice question 4 from the 2019 Post Utme Lautech Accounting examination.
A company uses the single-entry system of accounting. The company's journal entry for the purchase of equipment is as follows: Debit Equipment ₦50,000 and Credit Cash ₦50,000. What is the effect of this transaction on the company's cash balance?
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About This Question
This is Post Utme Lautech 2019 Accounting Question 4. It is one of the objective questions from the 2019 Post Utme Lautech Accounting examination.
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