Post Utme Summit University 2024 Accounting Question 38

Practice objective / multiple choice question 38 from the 2024 Post Utme Summit University Accounting examination.

Post Utme Summit University 2024 Accounting Objective / Multiple Choice

Question 38 POST_UTME_SUMMIT_UNIVERSITY • 2024 • ACCOUNTING • objective

A company's accounting equation is: Assets 100,000; Liabilities 50,000; Equity 50,000. What is the effect of increasing assets by 20,000 on the accounting equation?

Answer Options

A. Increases assets and decreases liabilities

B. Increases assets and increases liabilities

Correct Answer C. Increases assets and increases equity

D. Decreases assets and decreases liabilities

Correct Answer

Correct Option:

Increases assets and increases equity

About This Question

This is Post Utme Summit University 2024 Accounting Question 38. It is one of the objective questions from the 2024 Post Utme Summit University Accounting examination.

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