Post Utme Summit University 2023 Accounting Question 37

Practice objective / multiple choice question 37 from the 2023 Post Utme Summit University Accounting examination.

Post Utme Summit University 2023 Accounting Objective / Multiple Choice

Question 37 POST_UTME_SUMMIT_UNIVERSITY • 2023 • ACCOUNTING • objective

A company has the following trial balance: Debit 10,000, Credit 5,000. What is the effect of this transaction on the accounting equation?

Answer Options

Correct Answer A. Increases Assets and Decreases Liabilities

B. Increases Liabilities and Decreases Assets

C. Increases Equity and Decreases Assets

D. Increases Assets and Decreases Equity

Correct Answer

Correct Option:

Increases Assets and Decreases Liabilities

About This Question

This is Post Utme Summit University 2023 Accounting Question 37. It is one of the objective questions from the 2023 Post Utme Summit University Accounting examination.

View More Post Utme Summit University 2023 Accounting Questions More Post Utme Summit University Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows

Chat with Support