Post Utme Veritas University 2022 Accounting Question 9

Practice objective / multiple choice question 9 from the 2022 Post Utme Veritas University Accounting examination.

Post Utme Veritas University 2022 Accounting Objective / Multiple Choice
Question 9 POST_UTME_VERITAS_UNIVERSITY • 2022 • ACCOUNTING • objective

A company's ledger shows the following transactions: Debit Cash ₦10,000, Credit Accounts Payable ₦10,000. What is the effect of this transaction on the company's accounting equation?

Answer Options

A. Increases Assets, Decreases Liabilities
Correct Answer B. Increases Liabilities, Decreases Assets
C. Increases Equity, Decreases Liabilities
D. Increases Assets, Increases Liabilities
Correct Answer
B
Correct Option:
Increases Liabilities, Decreases Assets

About This Question

This is Post Utme Veritas University 2022 Accounting Question 9. It is one of the objective questions from the 2022 Post Utme Veritas University Accounting examination.

View More Post Utme Veritas University 2022 Accounting Questions More Post Utme Veritas University Practice Questions Back to Questions

Master the Exam!

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