Post Utme Caleb University 2024 Accounting Question 15

Practice objective / multiple choice question 15 from the 2024 Post Utme Caleb University Accounting examination.

Post Utme Caleb University 2024 Accounting Objective / Multiple Choice
Question 15 POST_UTME_CALEB_UNIVERSITY • 2024 • ACCOUNTING • objective

A company has the following transactions: Purchased a new asset for ₦50,000, Sold an old asset for ₦30,000, and Paid salaries of ₦20,000. What is the net effect on the company's cash balance?

Answer Options

A. +₦20,000
Correct Answer B. +₦30,000
C. +₦40,000
D. +₦50,000
Correct Answer
B
Correct Option:
+₦30,000

About This Question

This is Post Utme Caleb University 2024 Accounting Question 15. It is one of the objective questions from the 2024 Post Utme Caleb University Accounting examination.

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