Post Utme Crawford University 2020 Accounting Question 7

Practice objective / multiple choice question 7 from the 2020 Post Utme Crawford University Accounting examination.

Post Utme Crawford University 2020 Accounting Objective / Multiple Choice
Question 7 POST_UTME_CRAWFORD_UNIVERSITY • 2020 • ACCOUNTING • objective

A public sector organization has the following transactions: Purchase of office supplies ₦50,000, Payment of salaries ₦200,000, Receipt of cash from customers ₦150,000. What is the correct accounting equation after these transactions?

Answer Options

Correct Answer A. Assets = ₦300,000, Liabilities = ₦0, Equity = ₦300,000
B. Assets = ₦250,000, Liabilities = ₦0, Equity = ₦250,000
C. Assets = ₦350,000, Liabilities = ₦0, Equity = ₦350,000
D. Assets = ₦400,000, Liabilities = ₦0, Equity = ₦400,000
Correct Answer
A
Correct Option:
Assets = ₦300,000, Liabilities = ₦0, Equity = ₦300,000

About This Question

This is Post Utme Crawford University 2020 Accounting Question 7. It is one of the objective questions from the 2020 Post Utme Crawford University Accounting examination.

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