Post Utme Greenfield University 2017 Accounting Question 7

Practice objective / multiple choice question 7 from the 2017 Post Utme Greenfield University Accounting examination.

Post Utme Greenfield University 2017 Accounting Objective / Multiple Choice
Question 7 POST_UTME_GREENFIELD_UNIVERSITY • 2017 • ACCOUNTING • objective

A company has the following transactions: Purchased goods for ₦100,000 on credit; Sold goods for ₦120,000 on cash; and Paid salaries of ₦30,000. What is the net effect on the company's cash balance?

Answer Options

A. +₦30,000
Correct Answer B. +₦20,000
C. +₦10,000
D. -₦10,000
Correct Answer
B
Correct Option:
+₦20,000

About This Question

This is Post Utme Greenfield University 2017 Accounting Question 7. It is one of the objective questions from the 2017 Post Utme Greenfield University Accounting examination.

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support