Post Utme Ims U 2025 Accounting Question 39

Practice objective / multiple choice question 39 from the 2025 Post Utme Ims U Accounting examination.

Post Utme Ims U 2025 Accounting Objective / Multiple Choice
Question 39 POST_UTME_IMS_U • 2025 • ACCOUNTING • objective

A government agency prepares its financial statements in accordance with the accrual basis of accounting. The following transactions occurred during the year: Transaction 1: Collected taxes of ₦500,000. Transaction 2: Paid salaries of ₦300,000. Transaction 3: Purchased office equipment for ₦120,000. What is the total expense for the year?

Answer Options

A. ₦420,000
Correct Answer B. ₦520,000
C. ₦620,000
D. ₦720,000
Correct Answer
B
Correct Option:
₦520,000

About This Question

This is Post Utme Ims U 2025 Accounting Question 39. It is one of the objective questions from the 2025 Post Utme Ims U Accounting examination.

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