Post Utme Ims U 2023 Accounting Question 20

Practice objective / multiple choice question 20 from the 2023 Post Utme Ims U Accounting examination.

Post Utme Ims U 2023 Accounting Objective / Multiple Choice
Question 20 POST_UTME_IMS_U • 2023 • ACCOUNTING • objective

A company's balance sheet contains the following accounts: Cash 20,000, Accounts Payable 10,000, Common Stock 50,000, and Retained Earnings 30,000. What is the total amount of liabilities and equity?

Answer Options

A. 110,000
B. 120,000
Correct Answer C. 130,000
D. 140,000
Correct Answer
C
Correct Option:
130,000

About This Question

This is Post Utme Ims U 2023 Accounting Question 20. It is one of the objective questions from the 2023 Post Utme Ims U Accounting examination.

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