Post Utme Caleb University 2020 Accounting Question 29

Practice objective / multiple choice question 29 from the 2020 Post Utme Caleb University Accounting examination.

Post Utme Caleb University 2020 Accounting Objective / Multiple Choice
Question 29 POST_UTME_CALEB_UNIVERSITY • 2020 • ACCOUNTING • objective

A company uses the single entry system. The company's accountant has recorded the following transactions: Purchase of goods for ₦50,000, Sales of goods for ₦60,000, and Purchase of equipment for ₦20,000. What is the total amount of assets on the balance sheet?

Answer Options

A. ₦30,000
B. ₦50,000
C. ₦60,000
Correct Answer D. ₦70,000
Correct Answer
D
Correct Option:
₦70,000

About This Question

This is Post Utme Caleb University 2020 Accounting Question 29. It is one of the objective questions from the 2020 Post Utme Caleb University Accounting examination.

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