Post Utme Mountain Top University 2025 Accounting Question 6

Practice objective / multiple choice question 6 from the 2025 Post Utme Mountain Top University Accounting examination.

Post Utme Mountain Top University 2025 Accounting Objective / Multiple Choice
Question 6 POST_UTME_MOUNTAIN_TOP_UNIVERSITY • 2025 • ACCOUNTING • objective

A company uses the double-entry system to record its transactions. If the company purchases office equipment for ₦50,000, what is the effect on the accounting equation?

Answer Options

A. Assets increase, Liabilities increase
Correct Answer B. Assets increase, Liabilities decrease
C. Assets decrease, Liabilities increase
D. Assets decrease, Liabilities decrease
Correct Answer
B
Correct Option:
Assets increase, Liabilities decrease

About This Question

This is Post Utme Mountain Top University 2025 Accounting Question 6. It is one of the objective questions from the 2025 Post Utme Mountain Top University Accounting examination.

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