Post Utme Ksu 2021 Accounting Question 28

Practice objective / multiple choice question 28 from the 2021 Post Utme Ksu Accounting examination.

Post Utme Ksu 2021 Accounting Objective / Multiple Choice
Question 28 POST_UTME_KSU • 2021 • ACCOUNTING • objective

A company has the following transactions: | Date | Description | Debit | Credit | | --- | --- | --- | --- | | 1/1 | Cash | ₦10,000 | ₦0 | | 1/1 | Accounts Payable | ₦0 | ₦5,000 | | 1/2 | Sales Revenue | ₦0 | ₦20,000 | | 1/3 | Cost of Goods Sold | ₦15,000 | ₦0 | What is the correct balance for the Cash account?

Answer Options

A. ₦5,000
Correct Answer B. ₦10,000
C. ₦15,000
D. ₦20,000
Correct Answer
B
Correct Option:
₦10,000

About This Question

This is Post Utme Ksu 2021 Accounting Question 28. It is one of the objective questions from the 2021 Post Utme Ksu Accounting examination.

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support