Post Utme Achievers University 2022 Accounting Question 25

Practice objective / multiple choice question 25 from the 2022 Post Utme Achievers University Accounting examination.

Post Utme Achievers University 2022 Accounting Objective / Multiple Choice
Question 25 POST_UTME_ACHIEVERS_UNIVERSITY • 2022 • ACCOUNTING • objective

The following are the balance sheet of XYZ Ltd. at 31st December 2022.

Answer Options

Correct Answer A. | Asset | ₦ | Liability | ₦ | Capital | ₦ | | --- | --- | --- | --- | --- | --- | | Cash | 10,000 | Bank Loan | 5,000 | Share Capital | 25,000 | | Bank | 5,000 | Debentures | 10,000 | Profit | 5,000 | | Stock | 15,000 | Creditors | 5,000 | Drawings | 5,000 | | --- | --- | --- | --- | --- | --- | | Total | 30,000 | Total | 20,000 | Total | 35,000 |
B. | Asset | ₦ | Liability | ₦ | Capital | ₦ | | --- | --- | --- | --- | --- | --- | | Cash | 10,000 | Bank Loan | 10,000 | Share Capital | 25,000 | | Bank | 5,000 | Debentures | 5,000 | Profit | 5,000 | | Stock | 15,000 | Creditors | 5,000 | Drawings | 5,000 | | --- | --- | --- | --- | --- | --- | | Total | 30,000 | Total | 20,000 | Total | 35,000 |
C. | Asset | ₦ | Liability | ₦ | Capital | ₦ | | --- | --- | --- | --- | --- | --- | | Cash | 10,000 | Bank Loan | 5,000 | Share Capital | 25,000 | | Bank | 5,000 | Debentures | 10,000 | Profit | 5,000 | | Stock | 15,000 | Creditors | 5,000 | Drawings | 5,000 | | --- | --- | --- | --- | --- | --- | | Total | 30,000 | Total | 20,000 | Total | 35,000 |
D. | Asset | ₦ | Liability | ₦ | Capital | ₦ | | --- | --- | --- | --- | --- | --- | | Cash | 10,000 | Bank Loan | 10,000 | Share Capital | 25,000 | | Bank | 5,000 | Debentures | 5,000 | Profit | 5,000 | | Stock | 15,000 | Creditors | 5,000 | Drawings | 5,000 | | --- | --- | --- | --- | --- | --- | | Total | 30,000 | Total | 20,000 | Total | 35,000 |
Correct Answer
A
Correct Option:
| Asset | ₦ | Liability | ₦ | Capital | ₦ | | --- | --- | --- | --- | --- | --- | | Cash | 10,000 | Bank Loan | 5,000 | Share Capital | 25,000 | | Bank | 5,000 | Debentures | 10,000 | Profit | 5,000 | | Stock | 15,000 | Creditors | 5,000 | Drawings | 5,000 | | --- | --- | --- | --- | --- | --- | | Total | 30,000 | Total | 20,000 | Total | 35,000 |

About This Question

This is Post Utme Achievers University 2022 Accounting Question 25. It is one of the objective questions from the 2022 Post Utme Achievers University Accounting examination.

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