Post Utme Igbinedion University 2023 Accounting Question 15

Practice objective / multiple choice question 15 from the 2023 Post Utme Igbinedion University Accounting examination.

Post Utme Igbinedion University 2023 Accounting Objective / Multiple Choice
Question 15 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 current ratio?

Answer Options

A. 2:1
Correct Answer B. 3:1
C. 4:1
D. 5:1
Correct Answer
B
Correct Option:
3:1

About This Question

This is Post Utme Igbinedion University 2023 Accounting Question 15. It is one of the objective questions from the 2023 Post Utme Igbinedion University Accounting examination.

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