Question 0

If Mr. Ajasin paid his creditors N5000 out of N20 000 owed, what would be the effect of this transaction on the accounting equation?

  • A.A decraese in the total asssets by N5000
  • B.An incraese in the total liabilities and owners' equity by by N15 000
  • C.An increase in the total assets by N15 000
  • D.A decrease in owners' equuity by N5000
  • E.
Objective

Question details

Exam body
JAMB
Subject
Accounts - Principles of Accounts
Year
2007
Question no.
#0
Type
Objective

More from this paper

See all Accounts - Principles of Accounts 2007 questions