Post Utme Aaua 2021 Accounting Question 1

Practice objective / multiple choice question 1 from the 2021 Post Utme Aaua Accounting examination.

Post Utme Aaua 2021 Accounting Objective / Multiple Choice
Question 1 POST_UTME_AAUA • 2021 • ACCOUNTING • objective

A company uses a self-balancing ledger to record its transactions. The ledger has the following accounts: Cash, Accounts Payable, Sales Revenue, and Cost of Goods Sold. The ledger shows a balance of ₦50,000 in the Cash account and a balance of ₦30,000 in the Accounts Payable account. What is the total amount of the company's assets?

Answer Options

Correct Answer A. ₦80,000
B. ₦70,000
C. ₦60,000
D. ₦50,000
Correct Answer
A
Correct Option:
₦80,000

About This Question

This is Post Utme Aaua 2021 Accounting Question 1. It is one of the objective questions from the 2021 Post Utme Aaua Accounting examination.

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