Post Utme Unn 2022 Accounting Question 38

Practice objective / multiple choice question 38 from the 2022 Post Utme Unn Accounting examination.

Post Utme Unn 2022 Accounting Objective / Multiple Choice

Question 38 POST_UTME_UNN • 2022 • ACCOUNTING • objective

A company has the following transactions: Debit Cash 5,000, Credit Accounts Payable 5,000. What is the effect of this transaction on the company's balance sheet?

Correct Answer A. Increase in Cash and decrease in Accounts Payable

B. Decrease in Cash and increase in Accounts Payable

C. No effect on Cash and Accounts Payable

D. Increase in Accounts Payable and decrease in Cash

Correct Answer

Correct Option:

Increase in Cash and decrease in Accounts Payable

This is Post Utme Unn 2022 Accounting Question 38. It is one of the objective questions from the 2022 Post Utme Unn Accounting examination.

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