Gce Model Questions Vol1 2022 Financial Accounting Question 34

Practice objective / multiple choice question 34 from the 2022 Gce Model Questions Vol1 Financial Accounting examination.

Gce Model Questions Vol1 2022 Financial Accounting Objective / Multiple Choice Easy Difficulty
Question 34 GCE_MODEL_QUESTIONS_VOL1 • 2022 • FINANCIAL_ACCOUNTING • objective

The business purchases equipment for cash \(£5\,000\). State the effect of this transaction on total assets.

Answer Options

A. No effect on liabilities
B. Increase total assets
Correct Answer C. No effect on total assets
D. Decrease total assets
Correct Answer
C
Correct Option:
No effect on total assets

About This Question

This is Gce Model Questions Vol1 2022 Financial Accounting Question 34. It is one of the objective questions from the 2022 Gce Model Questions Vol1 Financial Accounting examination.

Difficulty level: Easy .

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