Post Utme Unn 2024 Accounting Question 30

Practice objective / multiple choice question 30 from the 2024 Post Utme Unn Accounting examination.

Post Utme Unn 2024 Accounting Objective / Multiple Choice
Question 30 POST_UTME_UNN • 2024 • ACCOUNTING • objective

A company uses a self-balancing ledger to record transactions. The following journal entry is made: Debit: Sales ₦ 10,000, Credit: Accounts Receivable ₦ 10,000. What is the effect of this transaction on the self-balancing ledger?

Answer Options

A. The Sales account will be debited and the Accounts Receivable account will be credited.
B. The Sales account will be credited and the Accounts Receivable account will be debited.
Correct Answer C. The Sales account will be debited and the Accounts Receivable account will be credited, resulting in an increase in the company's assets.
D. The Sales account will be credited and the Accounts Receivable account will be debited, resulting in a decrease in the company's assets.
Correct Answer
C
Correct Option:
The Sales account will be debited and the Accounts Receivable account will be credited, resulting in an increase in the company's assets.

About This Question

This is Post Utme Unn 2024 Accounting Question 30. It is one of the objective questions from the 2024 Post Utme Unn Accounting examination.

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