Post Utme Bowen University 2023 Accounting Question 7

Practice objective / multiple choice question 7 from the 2023 Post Utme Bowen University Accounting examination.

Post Utme Bowen University 2023 Accounting Objective / Multiple Choice
Question 7 POST_UTME_BOWEN_UNIVERSITY • 2023 • ACCOUNTING • objective

The following is a trial balance for XYZ Company: | Account | Debit | Credit | | --- | --- | --- | | Cash | ₦10,000 | ₦0 | | Accounts Payable | ₦0 | ₦10,000 | | Sales Revenue | ₦0 | ₦50,000 | | Cost of Goods Sold | ₦20,000 | ₦0 | | Net Income | ₦30,000 | ₦0 | What is the correct balance in the Cash account?

Answer Options

Correct Answer A. ₦10,000
B. ₦20,000
C. ₦30,000
D. ₦40,000
Correct Answer
A
Correct Option:
₦10,000

About This Question

This is Post Utme Bowen University 2023 Accounting Question 7. It is one of the objective questions from the 2023 Post Utme Bowen University Accounting examination.

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