Post Utme Uniosun 2022 Accounting Question 31

Practice objective / multiple choice question 31 from the 2022 Post Utme Uniosun Accounting examination.

Post Utme Uniosun 2022 Accounting Objective / Multiple Choice
Question 31 POST_UTME_UNIOSUN • 2022 • ACCOUNTING • objective

A company's ledger shows a debit balance of ₦80,000 in the Sales account. What is the effect on the accounting equation?

Answer Options

A. Assets increase by ₦80,000 and Liabilities decrease by ₦80,000
Correct Answer B. Assets increase by ₦80,000 and Equity increases by ₦80,000
C. Assets decrease by ₦80,000 and Liabilities increase by ₦80,000
D. Assets decrease by ₦80,000 and Equity decreases by ₦80,000
Correct Answer
B
Correct Option:
Assets increase by ₦80,000 and Equity increases by ₦80,000

About This Question

This is Post Utme Uniosun 2022 Accounting Question 31. It is one of the objective questions from the 2022 Post Utme Uniosun Accounting examination.

View More Post Utme Uniosun 2022 Accounting Questions More Post Utme Uniosun Practice Questions Back to Questions

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