Post Utme Igbinedion University 2023 Accounting Question 13

Practice objective / multiple choice question 13 from the 2023 Post Utme Igbinedion University Accounting examination.

Post Utme Igbinedion University 2023 Accounting Objective / Multiple Choice
Question 13 POST_UTME_IGBINEDION_UNIVERSITY • 2023 • ACCOUNTING • objective

A company's balance sheet as at 31st December, 2022 is as follows: Assets ₦ 50,000 - Cash ₦ 20,000 - Accounts Receivable ₦ 30,000 - Inventory ₦ 10,000 - Prepaid Rent Liabilities ₦ 20,000 - Accounts Payable ₦ 10,000 - Notes Payable What is the company's total equity?

Answer Options

A. ₦ 30,000
B. ₦ 40,000
Correct Answer C. ₦ 50,000
D. ₦ 60,000
Correct Answer
C
Correct Option:
₦ 50,000

About This Question

This is Post Utme Igbinedion University 2023 Accounting Question 13. It is one of the objective questions from the 2023 Post Utme Igbinedion University Accounting examination.

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