Post Utme Futo 2020 Accounting Question 9

Practice objective / multiple choice question 9 from the 2020 Post Utme Futo Accounting examination.

Post Utme Futo 2020 Accounting Objective / Multiple Choice
Question 9 POST_UTME_FUTO • 2020 • ACCOUNTING • objective

A company uses the following accounts: Cash, Accounts Payable, Accounts Receivable, Sales Revenue, Cost of Goods Sold, and Common Stock. Prepare a trial balance for the company, given the following balances: Cash ₦100,000, Accounts Payable ₦50,000, Accounts Receivable ₦20,000, Sales Revenue ₦200,000, Cost of Goods Sold ₦150,000, and Common Stock ₦500,000.

Answer Options

Correct Answer A. Cash ₦100,000, Accounts Payable ₦50,000, Accounts Receivable ₦20,000, Sales Revenue ₦200,000, Cost of Goods Sold ₦150,000, Common Stock ₦500,000
B. Cash ₦100,000, Accounts Payable ₦50,000, Accounts Receivable ₦20,000, Sales Revenue ₦200,000, Cost of Goods Sold ₦150,000, Common Stock ₦500,000
C. Cash ₦100,000, Accounts Payable ₦50,000, Accounts Receivable ₦20,000, Sales Revenue ₦200,000, Cost of Goods Sold ₦150,000, Common Stock ₦500,000
D. Cash ₦100,000, Accounts Payable ₦50,000, Accounts Receivable ₦20,000, Sales Revenue ₦200,000, Cost of Goods Sold ₦150,000, Common Stock ₦500,000
Correct Answer
A
Correct Option:
Cash ₦100,000, Accounts Payable ₦50,000, Accounts Receivable ₦20,000, Sales Revenue ₦200,000, Cost of Goods Sold ₦150,000, Common Stock ₦500,000

About This Question

This is Post Utme Futo 2020 Accounting Question 9. It is one of the objective questions from the 2020 Post Utme Futo Accounting examination.

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