Post Utme Achievers University 2021 Commerce Question 29

Practice objective / multiple choice question 29 from the 2021 Post Utme Achievers University Commerce examination.

Post Utme Achievers University 2021 Commerce Objective / Multiple Choice
Question 29 POST_UTME_ACHIEVERS_UNIVERSITY • 2021 • COMMERCE • objective

A company's financial statements show a net loss of ₦1.5 million in 2020. However, the company's cash balance increased by ₦2.5 million during the same period. What is the most likely explanation for this discrepancy?

Answer Options

A. The company sold assets to raise cash.
Correct Answer B. The company borrowed money to finance its operations.
C. The company had a decrease in accounts payable.
D. The company had a decrease in accounts receivable.
Correct Answer
B
Correct Option:
The company borrowed money to finance its operations.

About This Question

This is Post Utme Achievers University 2021 Commerce Question 29. It is one of the objective questions from the 2021 Post Utme Achievers University Commerce examination.

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