Post Utme Afe Babalola University 2022 Accounting Question 6

Practice objective / multiple choice question 6 from the 2022 Post Utme Afe Babalola University Accounting examination.

Post Utme Afe Babalola University 2022 Accounting Objective / Multiple Choice
Question 6 POST_UTME_AFE_BABALOLA_UNIVERSITY • 2022 • ACCOUNTING • objective

A company uses the single entry system of accounting. The following transactions were recorded during the year: a) Purchase of office equipment for ₦120,000 b) Sale of goods for ₦250,000 c) Payment of salaries ₦150,000 d) Purchase of raw materials ₦180,000 Determine the total assets of the company at the end of the year.

Answer Options

A. ₦550,000
B. ₦680,000
C. ₦720,000
Correct Answer D. ₦780,000
Correct Answer
D
Correct Option:
₦780,000

About This Question

This is Post Utme Afe Babalola University 2022 Accounting Question 6. It is one of the objective questions from the 2022 Post Utme Afe Babalola University Accounting examination.

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support