Post Utme Ims U 2019 Accounting Question 20

Practice objective / multiple choice question 20 from the 2019 Post Utme Ims U Accounting examination.

Post Utme Ims U 2019 Accounting Objective / Multiple Choice
Question 20 POST_UTME_IMS_U • 2019 • ACCOUNTING • objective

A company uses the single-entry system. If the company's assets increase by ₦50,000 and its liabilities decrease by ₦20,000, what is the net change in equity?

Answer Options

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

About This Question

This is Post Utme Ims U 2019 Accounting Question 20. It is one of the objective questions from the 2019 Post Utme Ims U Accounting examination.

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