Post Utme Achievers University 2021 Accounting Question 34

Practice objective / multiple choice question 34 from the 2021 Post Utme Achievers University Accounting examination.

Post Utme Achievers University 2021 Accounting Objective / Multiple Choice
Question 34 POST_UTME_ACHIEVERS_UNIVERSITY • 2021 • ACCOUNTING • objective

The following is a balance sheet for a company: Assets: Cash ₦50,000 Accounts Receivable ₦20,000 Inventory ₦30,000 Total Assets ₦100,000 Liabilities: Accounts Payable ₦20,000 Salaries Payable ₦10,000 Total Liabilities ₦30,000 What is the amount of equity?

Answer Options

A. ₦70,000
B. ₦80,000
C. ₦90,000
Correct Answer D. ₦100,000
Correct Answer
D
Correct Option:
₦100,000

About This Question

This is Post Utme Achievers University 2021 Accounting Question 34. It is one of the objective questions from the 2021 Post Utme Achievers University Accounting examination.

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