Post Utme Summit University 2025 Accounting Question 10

Practice objective / multiple choice question 10 from the 2025 Post Utme Summit University Accounting examination.

Post Utme Summit University 2025 Accounting Objective / Multiple Choice

Question 10 POST_UTME_SUMMIT_UNIVERSITY • 2025 • ACCOUNTING • objective

A company uses the single-entry system of accounting. The journal shows the following transactions: Debitors ₦ 50,000, Creditors ₦ 30,000. What is the net effect on the company's assets?

Answer Options

Correct Answer A. Increase by ₦ 20,000

B. Decrease by ₦ 20,000

C. No effect

D. Increase by ₦ 10,000

Correct Answer

Correct Option:

Increase by ₦ 20,000

About This Question

This is Post Utme Summit University 2025 Accounting Question 10. It is one of the objective questions from the 2025 Post Utme Summit University Accounting examination.

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