Post Utme Delsu 2019 Accounting Question 8

Practice objective / multiple choice question 8 from the 2019 Post Utme Delsu Accounting examination.

Post Utme Delsu 2019 Accounting Objective / Multiple Choice
Question 8 POST_UTME_DELSU • 2019 • ACCOUNTING • objective

A company has the following ledger balances: Cash = ₦1,000,000, Accounts Payable = ₦500,000, Common Stock = ₦500,000. Prepare a balance sheet for the company.

Answer Options

Correct Answer A. Assets = ₦1,000,000, Liabilities = ₦500,000, Equity = ₦500,000
B. Assets = ₦1,500,000, Liabilities = ₦1,000,000, Equity = ₦500,000
C. Assets = ₦1,000,000, Liabilities = ₦1,500,000, Equity = ₦500,000
D. Assets = ₦1,500,000, Liabilities = ₦1,000,000, Equity = ₦500,000
Correct Answer
A
Correct Option:
Assets = ₦1,000,000, Liabilities = ₦500,000, Equity = ₦500,000

About This Question

This is Post Utme Delsu 2019 Accounting Question 8. It is one of the objective questions from the 2019 Post Utme Delsu Accounting examination.

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