Post Utme Achievers University 2020 Accounting Question 2

Practice objective / multiple choice question 2 from the 2020 Post Utme Achievers University Accounting examination.

Post Utme Achievers University 2020 Accounting Objective / Multiple Choice
Question 2 POST_UTME_ACHIEVERS_UNIVERSITY • 2020 • ACCOUNTING • objective

A company's trial balance as of December 31, 2020, is as follows: Debit ₦ 1,500,000 Cash ₦ 2,000,000 Accounts Receivable ₦ 3,000,000 Inventory ₦ 4,000,000 Prepaid Rent ₦ 5,000,000 Credit ₦ 1,000,000 Accounts Payable ₦ 2,000,000 Salaries Payable ₦ 3,000,000 Unearned Revenue ₦ 4,000,000 Common Stock ₦ 5,000,000 What is the correct order of the accounts in the general ledger?

Answer Options

A. Cash, Accounts Receivable, Inventory, Prepaid Rent, Accounts Payable, Salaries Payable, Unearned Revenue, Common Stock
B. Cash, Accounts Payable, Salaries Payable, Unearned Revenue, Common Stock, Accounts Receivable, Inventory, Prepaid Rent
Correct Answer C. Cash, Accounts Receivable, Inventory, Prepaid Rent, Accounts Payable, Salaries Payable, Unearned Revenue, Common Stock
D. Cash, Accounts Payable, Salaries Payable, Unearned Revenue, Common Stock, Accounts Receivable, Inventory, Prepaid Rent
Correct Answer
C
Correct Option:
Cash, Accounts Receivable, Inventory, Prepaid Rent, Accounts Payable, Salaries Payable, Unearned Revenue, Common Stock

About This Question

This is Post Utme Achievers University 2020 Accounting Question 2. It is one of the objective questions from the 2020 Post Utme Achievers University Accounting examination.

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