Post Utme Elizade University 2022 Accounting Question 2

Practice objective / multiple choice question 2 from the 2022 Post Utme Elizade University Accounting examination.

Post Utme Elizade University 2022 Accounting Objective / Multiple Choice
Question 2 POST_UTME_ELIZADE_UNIVERSITY • 2022 • ACCOUNTING • objective

A company has the following transactions: Purchased raw materials for ₦100,000; sold goods for ₦150,000; purchased finished goods for ₦80,000; and sold raw materials for ₦20,000. What is the net effect on the company's cash balance?

Answer Options

A. ₦30,000 decrease
Correct Answer B. ₦30,000 increase
C. ₦60,000 decrease
D. ₦60,000 increase
Correct Answer
B
Correct Option:
₦30,000 increase

About This Question

This is Post Utme Elizade University 2022 Accounting Question 2. It is one of the objective questions from the 2022 Post Utme Elizade University Accounting examination.

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