Post Utme Unilag 2019 Accounting Question 23

Practice objective / multiple choice question 23 from the 2019 Post Utme Unilag Accounting examination.

Post Utme Unilag 2019 Accounting Objective / Multiple Choice

Question 23 POST_UTME_UNILAG • 2019 • ACCOUNTING • objective

A company uses the self-balancing ledger system. The company's ledger account for the year ended 31st December 2022 is as follows: Debit: ₦200,000; Credit: ₦200,000 What is the effect of this ledger account on the company's financial position?

Answer Options

A. The company's assets will decrease by ₦200,000.

B. The company's liabilities will increase by ₦200,000.

C. The company's equity will decrease by ₦200,000.

D. The company's assets will increase by ₦200,000.

Correct Answer

N/A

About This Question

This is Post Utme Unilag 2019 Accounting Question 23. It is one of the objective questions from the 2019 Post Utme Unilag Accounting examination.

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