Post Utme Pan Atlantic University 2024 Accounting Question 28

Practice objective / multiple choice question 28 from the 2024 Post Utme Pan Atlantic University Accounting examination.

Post Utme Pan Atlantic University 2024 Accounting Objective / Multiple Choice
Question 28 POST_UTME_PAN-ATLANTIC_UNIVERSITY • 2024 • ACCOUNTING • objective

A company uses the single-entry system of accounting. The following transactions are recorded: Debit: ₦10,000; Credit: ₦15,000. What is the net effect on the company's equity?

Answer Options

A. ₦5,000 decrease
Correct Answer B. ₦5,000 increase
C. ₦10,000 decrease
D. ₦10,000 increase
Correct Answer
B
Correct Option:
₦5,000 increase

About This Question

This is Post Utme Pan Atlantic University 2024 Accounting Question 28. It is one of the objective questions from the 2024 Post Utme Pan Atlantic University Accounting examination.

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