Post Utme Achievers University 2020 Accounting Question 12

Practice objective / multiple choice question 12 from the 2020 Post Utme Achievers University Accounting examination.

Post Utme Achievers University 2020 Accounting Objective / Multiple Choice
Question 12 POST_UTME_ACHIEVERS_UNIVERSITY • 2020 • ACCOUNTING • objective

A government agency has the following transactions: Purchase of office equipment for ₦50,000, Salaries paid to employees for ₦200,000, Rent paid for ₦30,000. What is the correct accounting equation for the above transactions?

Answer Options

Correct Answer A. Assets = Liabilities + Equity
B. Liabilities = Assets + Equity
C. Equity = Assets - Liabilities
D. Assets = Equity - Liabilities
Correct Answer
A
Correct Option:
Assets = Liabilities + Equity

About This Question

This is Post Utme Achievers University 2020 Accounting Question 12. It is one of the objective questions from the 2020 Post Utme Achievers University Accounting examination.

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