NSSCAS Accounting (8244) Practice Questions - Namibia Senior Secondary Certificate Advanced Subsidiary Accounting (Syllabus 8244) Exam

A Windhoek sole trader buys inventory on credit for N$12 000. What is the immediate effect on the accounting equation?

Assets +N$12 000; capital +N$12 000 Assets +N$12 000; liabilities +N$12 000 Assets −N$12 000; liabilities −N$12 000 Assets +N$12 000; liabilities −N$12 000

Correct Answer:

Assets +N$12 000; liabilities +N$12 000

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