Post Utme Lautech 2017 Accounting Question 40

Practice objective / multiple choice question 40 from the 2017 Post Utme Lautech Accounting examination.

Post Utme Lautech 2017 Accounting Objective / Multiple Choice
Question 40 POST_UTME_LAUTECH • 2017 • ACCOUNTING • objective

A company uses the single entry system to record its financial transactions. The company's assets are ₦220,000, liabilities are ₦60,000, and equity is ₦160,000. What is the company's net worth?

Answer Options

A. ₦160,000
B. ₦220,000
Correct Answer C. ₦280,000
D. ₦320,000
Correct Answer
C
Correct Option:
₦280,000

About This Question

This is Post Utme Lautech 2017 Accounting Question 40. It is one of the objective questions from the 2017 Post Utme Lautech Accounting examination.

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