Post Utme Oau 2024 Accounting Question 20

Practice objective / multiple choice question 20 from the 2024 Post Utme Oau Accounting examination.

Post Utme Oau 2024 Accounting Objective / Multiple Choice
Question 20 POST_UTME_OAU • 2024 • ACCOUNTING • objective

A company has the following ledger balances: Cash ₦150,000, Accounts Payable ₦80,000. The company purchases office supplies for ₦30,000 cash. What is the effect of this transaction on the accounting equation?

Answer Options

Correct Answer A. Increases Assets, Decreases Liabilities
B. Decreases Assets, Increases Liabilities
C. Increases Liabilities, Decreases Assets
D. No effect on the accounting equation
Correct Answer
A
Correct Option:
Increases Assets, Decreases Liabilities

About This Question

This is Post Utme Oau 2024 Accounting Question 20. It is one of the objective questions from the 2024 Post Utme Oau Accounting examination.

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