Post Utme Afe Babalola University 2023 Accounting Question 16

Practice objective / multiple choice question 16 from the 2023 Post Utme Afe Babalola University Accounting examination.

Post Utme Afe Babalola University 2023 Accounting Objective / Multiple Choice
Question 16 POST_UTME_AFE_BABALOLA_UNIVERSITY • 2023 • ACCOUNTING • objective

A company uses the single-entry system of accounting. The following transactions occurred during the year: a) Purchased office equipment for ₦120,000. b) Sold goods for ₦300,000. c) Purchased raw materials for ₦150,000. d) Paid salaries of ₦100,000. What is the total amount of expenses for the year?

Answer Options

Correct Answer A. ₦470,000
B. ₦470,000
C. ₦470,000
D. ₦470,000
Correct Answer
A
Correct Option:
₦470,000

About This Question

This is Post Utme Afe Babalola University 2023 Accounting Question 16. It is one of the objective questions from the 2023 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