Post Utme Igbinedion University 2025 Accounting Question 20

Practice objective / multiple choice question 20 from the 2025 Post Utme Igbinedion University Accounting examination.

Post Utme Igbinedion University 2025 Accounting Objective / Multiple Choice
Question 20 POST_UTME_IGBINEDION_UNIVERSITY • 2025 • ACCOUNTING • objective

A company has the following trial balance: Cash = ₦100,000, Accounts Payable = ₦50,000, Common Stock = ₦50,000. Prepare the balance sheet.

Answer Options

A. Assets = ₦100,000, Liabilities = ₦50,000, Equity = ₦50,000
B. Assets = ₦50,000, Liabilities = ₦100,000, Equity = ₦-50,000
Correct Answer C. Assets = ₦100,000, Liabilities = ₦50,000, Equity = ₦50,000
D. Assets = ₦50,000, Liabilities = ₦100,000, Equity = ₦-50,000
Correct Answer
C
Correct Option:
Assets = ₦100,000, Liabilities = ₦50,000, Equity = ₦50,000

About This Question

This is Post Utme Igbinedion University 2025 Accounting Question 20. It is one of the objective questions from the 2025 Post Utme Igbinedion University Accounting examination.

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