Post Utme Ui 2020 Accounting Question 2

Practice objective / multiple choice question 2 from the 2020 Post Utme Ui Accounting examination.

Post Utme Ui 2020 Accounting Objective / Multiple Choice

Question 2 POST_UTME_UI • 2020 • ACCOUNTING • objective

A company uses the double entry system of accounting. What is the effect of the following transaction on the accounting equation?

A. Increases Assets and Equity

B. Decreases Assets and Equity

C. Increases Assets and Decreases Equity

Correct Answer D. Decreases Assets and Increases Equity

Correct Answer

Correct Option:

Decreases Assets and Increases Equity

This is Post Utme Ui 2020 Accounting Question 2. It is one of the objective questions from the 2020 Post Utme Ui Accounting examination.

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