Post Utme Crawford University 2017 Accounting Question 27

Practice objective / multiple choice question 27 from the 2017 Post Utme Crawford University Accounting examination.

Post Utme Crawford University 2017 Accounting Objective / Multiple Choice
Question 27 POST_UTME_CRAWFORD_UNIVERSITY • 2017 • ACCOUNTING • objective

A company has the following transactions: Purchased goods for ₦150,000 on credit. Sold goods for ₦200,000 on credit. Paid cash of ₦30,000 to a creditor. What is the net effect on the company's cash balance?

Answer Options

Correct Answer A. ₦20,000 increase
B. ₦20,000 decrease
C. ₦10,000 increase
D. ₦10,000 decrease
Correct Answer
A
Correct Option:
₦20,000 increase

About This Question

This is Post Utme Crawford University 2017 Accounting Question 27. It is one of the objective questions from the 2017 Post Utme Crawford University Accounting examination.

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