Post Utme Unilorin 2024 Accounting Question 28

Practice objective / multiple choice question 28 from the 2024 Post Utme Unilorin Accounting examination.

Post Utme Unilorin 2024 Accounting Objective / Multiple Choice
Question 28 POST_UTME_UNILORIN • 2024 • ACCOUNTING • objective

A company's balance sheet shows a decrease in the 'Accumulated Depreciation' account of ₦20,000. What is the effect of this decrease on the company's net assets?

Answer Options

A. Increase in net assets by ₦20,000
Correct Answer B. Decrease in net assets by ₦20,000
C. No effect on net assets
D. Increase in net assets by ₦10,000
Correct Answer
B
Correct Option:
Decrease in net assets by ₦20,000

About This Question

This is Post Utme Unilorin 2024 Accounting Question 28. It is one of the objective questions from the 2024 Post Utme Unilorin Accounting examination.

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