Post Utme Uniport 2021 Accounting Question 40

Practice objective / multiple choice question 40 from the 2021 Post Utme Uniport Accounting examination.

Post Utme Uniport 2021 Accounting Objective / Multiple Choice
Question 40 POST_UTME_UNIPORT • 2021 • ACCOUNTING • objective

A company uses the single entry system to record its transactions. The company's ledger shows the following entry: 'Debit: ₦10,000; Credit: ₦5,000'. What is the accounting equation for this entry?

Answer Options

Correct Answer A. Assets = Liabilities + Equity
B. Assets - Liabilities = Equity
C. Liabilities - Assets = Equity
D. Equity - Liabilities = Assets
Correct Answer
A
Correct Option:
Assets = Liabilities + Equity

About This Question

This is Post Utme Uniport 2021 Accounting Question 40. It is one of the objective questions from the 2021 Post Utme Uniport Accounting examination.

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