Post Utme Lautech 2017 Accounting Question 38

Practice objective / multiple choice question 38 from the 2017 Post Utme Lautech Accounting examination.

Post Utme Lautech 2017 Accounting Objective / Multiple Choice
Question 38 POST_UTME_LAUTECH • 2017 • ACCOUNTING • objective

A company uses the double entry system to record its financial transactions. The company's assets are ₦200,000, liabilities are ₦80,000, and equity is ₦120,000. What is the company's net worth?

Answer Options

A. ₦120,000
B. ₦180,000
Correct Answer C. ₦220,000
D. ₦280,000
Correct Answer
C
Correct Option:
₦220,000

About This Question

This is Post Utme Lautech 2017 Accounting Question 38. It is one of the objective questions from the 2017 Post Utme Lautech Accounting examination.

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