Post Utme Bells University 2020 Accounting Question 10

Practice objective / multiple choice question 10 from the 2020 Post Utme Bells University Accounting examination.

Post Utme Bells University 2020 Accounting Objective / Multiple Choice
Question 10 POST_UTME_BELLS_UNIVERSITY • 2020 • ACCOUNTING • objective

A company uses the control accounts method to record its transactions. The company has the following information: Cash = ₦50,000, Accounts Payable = ₦25,000, and Common Stock = ₦70,000. If the company has a balance of ₦35,000 in the Accounts Receivable account, what is the total amount of assets that the company has?

Answer Options

Correct Answer A. ₦120,000
B. ₦130,000
C. ₦140,000
D. ₦150,000
Correct Answer
A
Correct Option:
₦120,000

About This Question

This is Post Utme Bells University 2020 Accounting Question 10. It is one of the objective questions from the 2020 Post Utme Bells University Accounting examination.

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