Post Utme Bowen University 2023 Accounting Question 3

Practice objective / multiple choice question 3 from the 2023 Post Utme Bowen University Accounting examination.

Post Utme Bowen University 2023 Accounting Objective / Multiple Choice
Question 3 POST_UTME_BOWEN_UNIVERSITY • 2023 • ACCOUNTING • objective

A company's balance sheet shows the following assets: Cash ₦50,000, Accounts Receivable ₦30,000, Inventory ₦100,000. What is the correct formula to calculate the company's total assets?

Answer Options

Correct Answer A. Total Assets = Cash + Accounts Receivable + Inventory
B. Total Assets = Cash + Accounts Receivable - Inventory
C. Total Assets = Cash + Inventory - Accounts Receivable
D. Total Assets = Accounts Receivable + Inventory - Cash
Correct Answer
A
Correct Option:
Total Assets = Cash + Accounts Receivable + Inventory

About This Question

This is Post Utme Bowen University 2023 Accounting Question 3. It is one of the objective questions from the 2023 Post Utme Bowen University Accounting examination.

View More Post Utme Bowen University 2023 Accounting Questions More Post Utme Bowen University Practice Questions Back to Questions

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