Post Utme Unn 2022 Accounting Question 40

Practice objective / multiple choice question 40 from the 2022 Post Utme Unn Accounting examination.

Post Utme Unn 2022 Accounting Objective / Multiple Choice

Question 40 POST_UTME_UNN • 2022 • ACCOUNTING • objective

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

A. Increase in Accounts Payable and decrease in Cash

Correct Answer B. Decrease in Accounts Payable and increase in Cash

C. No effect on Accounts Payable and Cash

D. Increase in Cash and decrease in Accounts Payable

Correct Answer

Correct Option:

Decrease in Accounts Payable and increase in Cash

This is Post Utme Unn 2022 Accounting Question 40. It is one of the objective questions from the 2022 Post Utme Unn Accounting examination.

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