Post Utme Ksu 2021 Accounting Question 16

Practice objective / multiple choice question 16 from the 2021 Post Utme Ksu Accounting examination.

Post Utme Ksu 2021 Accounting Objective / Multiple Choice
Question 16 POST_UTME_KSU • 2021 • ACCOUNTING • objective

A company uses the single-entry system of accounting. The company's trial balance as at 31st December, 2020, shows the following balances: Cash ₦1,500,000, Accounts Payable ₦0,000,000, Common Stock ₦1,000,000, and Retained Earnings ₦0,500,000. What is the company's total assets as at 31st December, 2020?

Answer Options

A. ₦1,500,000
B. ₦1,500,000 + ₦0,000,000
C. ₦1,000,000 + ₦0,500,000
Correct Answer D. ₦1,500,000 + ₦1,000,000 + ₦0,500,000
Correct Answer
D
Correct Option:
₦1,500,000 + ₦1,000,000 + ₦0,500,000

About This Question

This is Post Utme Ksu 2021 Accounting Question 16. It is one of the objective questions from the 2021 Post Utme Ksu Accounting examination.

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