Post Utme Mountain Top University 2021 Accounting Question 35

Practice objective / multiple choice question 35 from the 2021 Post Utme Mountain Top University Accounting examination.

Post Utme Mountain Top University 2021 Accounting Objective / Multiple Choice
Question 35 POST_UTME_MOUNTAIN_TOP_UNIVERSITY • 2021 • ACCOUNTING • objective

A company's balance sheet showed a decrease in assets and an increase in liabilities. What is the effect of this on the company's equity?

Answer Options

A. Increase in equity
Correct Answer B. Decrease in equity
C. No effect on equity
D. Increase in liabilities and decrease in equity
Correct Answer
B
Correct Option:
Decrease in equity

About This Question

This is Post Utme Mountain Top University 2021 Accounting Question 35. It is one of the objective questions from the 2021 Post Utme Mountain Top University Accounting examination.

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