Post Utme Abu 2017 Accounting Question 6

Practice objective / multiple choice question 6 from the 2017 Post Utme Abu Accounting examination.

Post Utme Abu 2017 Accounting Objective / Multiple Choice
Question 6 POST_UTME_ABU • 2017 • ACCOUNTING • objective

A company uses the single-entry system of accounting. The company's trial balance as at 31st December 2016 is as follows: Debit: Cash ¡ 50,000 Accounts Payable ¡ 30,000 Equipment ¡ 100,000 Credit: Accounts Receivable ¡ 20,000 Common Stock ¡ 150,000 Total ¡ 350,000

Answer Options

A. ¡ 20,000
B. ¡ 30,000
Correct Answer C. ¡ 50,000
D. ¡ 100,000
Correct Answer
C
Correct Option:
¡ 50,000

About This Question

This is Post Utme Abu 2017 Accounting Question 6. It is one of the objective questions from the 2017 Post Utme Abu Accounting examination.

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support