Post Utme Redeemers University 2023 Accounting Question 39

Practice objective / multiple choice question 39 from the 2023 Post Utme Redeemers University Accounting examination.

Post Utme Redeemers University 2023 Accounting Objective / Multiple Choice
Question 39 POST_UTME_REDEEMERS_UNIVERSITY • 2023 • ACCOUNTING • objective

A company uses the cash book to record cash transactions. The following cash book entry is recorded: Debit Cash 1,000, Credit Accounts Payable 1,000. What is the effect of this transaction on the accounting equation?

Answer Options

A. Increases assets and liabilities
B. Decreases assets and increases liabilities
C. Increases liabilities and decreases equity
Correct Answer D. Increases assets and decreases liabilities
Correct Answer
D
Correct Option:
Increases assets and decreases liabilities

About This Question

This is Post Utme Redeemers University 2023 Accounting Question 39. It is one of the objective questions from the 2023 Post Utme Redeemers University Accounting examination.

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