Post Utme Skyline University 2020 Accounting Question 21

Practice objective / multiple choice question 21 from the 2020 Post Utme Skyline University Accounting examination.

Post Utme Skyline University 2020 Accounting Objective / Multiple Choice
Question 21 POST_UTME_SKYLINE_UNIVERSITY • 2020 • ACCOUNTING • objective

A company uses the double entry system to record transactions. If the company's assets increase by ₦10,000 and its liabilities increase by ₦8,000, what is the effect on the company's equity?

Answer Options

Correct Answer A. ₦2,000 increase
B. ₦2,000 decrease
C. ₦0 change
D. ₦2,000 increase and ₦2,000 decrease
Correct Answer
A
Correct Option:
₦2,000 increase

About This Question

This is Post Utme Skyline University 2020 Accounting Question 21. It is one of the objective questions from the 2020 Post Utme Skyline University Accounting examination.

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