Post Utme Covenant University 2021 Accounting Question 9
Practice objective / multiple choice question 9 from the 2021 Post Utme Covenant University Accounting examination.
A company uses the accrual basis of accounting. On January 1, 2022, it had an accounts payable balance of ₦100,000. During the year, it purchased goods worth ₦500,000 on credit and paid ₦200,000 of the amount. On December 31, 2022, the accounts payable balance was ₦150,000. What is the net change in accounts payable for the year?
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About This Question
This is Post Utme Covenant University 2021 Accounting Question 9. It is one of the objective questions from the 2021 Post Utme Covenant University Accounting examination.
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