Post Utme Uniport 2022 Accounting Question 3

Practice objective / multiple choice question 3 from the 2022 Post Utme Uniport Accounting examination.

Post Utme Uniport 2022 Accounting Objective / Multiple Choice

Question 3 POST_UTME_UNIPORT • 2022 • ACCOUNTING • objective

A company uses the double-entry system of accounting. If the company has a debit balance of 5,000 in the Accounts Payable account and a credit balance of 10,000 in the Cash account, what is the net effect on the company's assets?

Answer Options

Correct Answer A. ₦5,000 increase

B. ₦5,000 decrease

C. ₦10,000 increase

D. ₦10,000 decrease

Correct Answer

Correct Option:

₦5,000 increase

About This Question

This is Post Utme Uniport 2022 Accounting Question 3. It is one of the objective questions from the 2022 Post Utme Uniport Accounting examination.

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