Post Utme Summit University 2024 Accounting Question 37

Practice objective / multiple choice question 37 from the 2024 Post Utme Summit University Accounting examination.

Post Utme Summit University 2024 Accounting Objective / Multiple Choice
Question 37 POST_UTME_SUMMIT_UNIVERSITY • 2024 • ACCOUNTING • objective

A company's bank statement shows the following transactions: Debit: Bank 500; Credit: Sales 500. What is the effect of this transaction on the bank statement?

Answer Options

A. Increases bank and decreases sales
B. Decreases bank and increases sales
Correct Answer C. Increases bank and increases sales
D. Decreases bank and decreases sales
Correct Answer
C
Correct Option:
Increases bank and increases sales

About This Question

This is Post Utme Summit University 2024 Accounting Question 37. It is one of the objective questions from the 2024 Post Utme Summit University Accounting examination.

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