Post Utme Unilorin 2019 Accounting Question 15

Practice objective / multiple choice question 15 from the 2019 Post Utme Unilorin Accounting examination.

Post Utme Unilorin 2019 Accounting Objective / Multiple Choice
Question 15 POST_UTME_UNILORIN • 2019 • ACCOUNTING • objective

A company uses the double-entry system of accounting. If the company's assets increase by ₦100,000 and its liabilities decrease by ₦50,000, what is the effect on the company's equity?

Answer Options

Correct Answer A. ₦50,000 increase
B. ₦50,000 decrease
C. ₦100,000 increase
D. ₦100,000 decrease
Correct Answer
A
Correct Option:
₦50,000 increase

About This Question

This is Post Utme Unilorin 2019 Accounting Question 15. It is one of the objective questions from the 2019 Post Utme Unilorin Accounting examination.

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support