Post Utme Crawford University 2024 Accounting Question 17

Practice objective / multiple choice question 17 from the 2024 Post Utme Crawford University Accounting examination.

Post Utme Crawford University 2024 Accounting Objective / Multiple Choice
Question 17 POST_UTME_CRAWFORD_UNIVERSITY • 2024 • ACCOUNTING • objective

A company uses a self-balancing ledger to record its transactions. The ledger has the following accounts: Cash, Accounts Payable, Accounts Receivable, and Common Stock. If the company's cash balance is ₦50,000 and its accounts payable balance is ₦30,000, what is the company's net worth?

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 Crawford University 2024 Accounting Question 17. It is one of the objective questions from the 2024 Post Utme Crawford University Accounting examination.

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