Post Utme Unilag 2020 Accounting Question 23

Practice objective / multiple choice question 23 from the 2020 Post Utme Unilag Accounting examination.

Post Utme Unilag 2020 Accounting Objective / Multiple Choice
Question 23 POST_UTME_UNILAG • 2020 • ACCOUNTING • objective

A company has the following cash book transactions: Debit: Cash 1,000, Credit: Accounts Payable 1,000. What is the effect of this transaction on the cash book?

Answer Options

Correct Answer A. Increases cash and decreases accounts payable
B. Decreases cash and increases accounts payable
C. Increases accounts payable and decreases cash
D. Decreases accounts payable and increases cash
Correct Answer
A
Correct Option:
Increases cash and decreases accounts payable

About This Question

This is Post Utme Unilag 2020 Accounting Question 23. It is one of the objective questions from the 2020 Post Utme Unilag Accounting examination.

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