Post Utme Noun 2020 Accounting Question 4

Practice objective / multiple choice question 4 from the 2020 Post Utme Noun Accounting examination.

Post Utme Noun 2020 Accounting Objective / Multiple Choice

Question 4 POST_UTME_NOUN • 2020 • ACCOUNTING • objective

A company has the following transactions in its journal: Debit Accounts Payable 1,000, Credit Cash 1,000. What is the effect of this transaction on the accounting equation?

A. Increases Assets and Decreases Liabilities

B. Decreases Assets and Increases Liabilities

C. Increases Assets and Increases Liabilities

Correct Answer D. Decreases Assets and Decreases Liabilities

Correct Answer

Correct Option:

Decreases Assets and Decreases Liabilities

This is Post Utme Noun 2020 Accounting Question 4. It is one of the objective questions from the 2020 Post Utme Noun Accounting examination.

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