Post Utme Lead City University 2024 Accounting Question 14

Practice objective / multiple choice question 14 from the 2024 Post Utme Lead City University Accounting examination.

Post Utme Lead City University 2024 Accounting Objective / Multiple Choice
Question 14 POST_UTME_LEAD_CITY_UNIVERSITY • 2024 • ACCOUNTING • objective

A company has a self-balancing ledger with the following accounts: Cash, Bank, Accounts Payable, and Common Stock. If the Cash account has a debit balance of ₦50,000 and the Bank account has a credit balance of ₦30,000, what is the net effect on the ledger?

Answer Options

Correct Answer A. The ledger will be in balance
B. The ledger will have a debit balance of ₦20,000
C. The ledger will have a credit balance of ₦20,000
D. The ledger will have a debit balance of ₦20,000
Correct Answer
A
Correct Option:
The ledger will be in balance

About This Question

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

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