Post Utme Veritas University 2023 Accounting Question 2

Practice objective / multiple choice question 2 from the 2023 Post Utme Veritas University Accounting examination.

Post Utme Veritas University 2023 Accounting Objective / Multiple Choice
Question 2 POST_UTME_VERITAS_UNIVERSITY • 2023 • ACCOUNTING • objective

A company uses the single-entry system of accounting. The company's cash book shows a debit balance of ₦50,000. What is the effect on the company's net worth?

Answer Options

A. ₦50,000 increase
Correct Answer B. ₦50,000 decrease
C. No effect
D. ₦25,000 increase
Correct Answer
B
Correct Option:
₦50,000 decrease

About This Question

This is Post Utme Veritas University 2023 Accounting Question 2. It is one of the objective questions from the 2023 Post Utme Veritas University Accounting examination.

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