Post Utme Unilorin 2023 Accounting Question 16

Practice objective / multiple choice question 16 from the 2023 Post Utme Unilorin Accounting examination.

Post Utme Unilorin 2023 Accounting Objective / Multiple Choice
Question 16 POST_UTME_UNILORIN • 2023 • ACCOUNTING • objective

A company uses the double-entry system to record transactions. If a customer pays ₥0,000 cash for goods worth ₥0,000, what is the effect on the accounting equation?

Answer Options

A. Assets increase by ₥0,000 and liabilities decrease by ₥0,000
Correct Answer B. Assets increase by ₥0,000 and equity increases by ₥0,000
C. Assets decrease by ₥0,000 and liabilities increase by ₥0,000
D. Assets decrease by ₥0,000 and equity decreases by ₥0,000
Correct Answer
B
Correct Option:
Assets increase by ₥0,000 and equity increases by ₥0,000

About This Question

This is Post Utme Unilorin 2023 Accounting Question 16. It is one of the objective questions from the 2023 Post Utme Unilorin Accounting examination.

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