NSSCO Accounting (6143) Practice Questions - Namibia Senior Secondary Certificate Ordinary Level Accounting (Syllabus 6143) Exam

A trader buys goods on credit for N$8,500. What is the immediate effect on the accounting equation?

Assets increase N$8,500; capital increases N$8,500 Assets increase N$8,500; liabilities increase N$8,500 Assets decrease N$8,500; liabilities decrease N$8,500 Assets increase N$8,500; liabilities decrease N$8,500

Correct Answer:

Assets increase N$8,500; liabilities increase N$8,500

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