Post Utme Lautech 2020 Accounting Question 20

Practice objective / multiple choice question 20 from the 2020 Post Utme Lautech Accounting examination.

Post Utme Lautech 2020 Accounting Objective / Multiple Choice
Question 20 POST_UTME_LAUTECH • 2020 • ACCOUNTING • objective

A company has the following transactions: Purchased goods for ₦100,000, Sold goods for ₦150,000, and Paid salaries of ₦20,000. What is the net effect on the company's cash balance?

Answer Options

A. ₦30,000
B. ₦40,000
Correct Answer C. ₦50,000
D. ₦60,000
Correct Answer
C
Correct Option:
₦50,000

About This Question

This is Post Utme Lautech 2020 Accounting Question 20. It is one of the objective questions from the 2020 Post Utme Lautech Accounting examination.

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