JAMB Accounting 2012 Objective — Question 4
Question 4 of 50 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2012 Objective paper, with the correct answer and a full explanation.
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The correct posting in the double entry system of account when there is an increase in assets, expenses, capital or liabilities is to debit
- A. capital and credit liabilities
- B. liabilities and credit assets
- C. assets and credit capitalCorrect
- D. capital and credit assets
Explanation
When asset is increased, the entry could be: Dr: Asset a/c; Cr: Capital a/c.
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