Post Utme Lautech 2023 Accounting Question 3

Practice objective / multiple choice question 3 from the 2023 Post Utme Lautech Accounting examination.

Post Utme Lautech 2023 Accounting Objective / Multiple Choice
Question 3 POST_UTME_LAUTECH • 2023 • ACCOUNTING • objective

A company has the following transactions for the year ended December 31, 2022: Purchased office equipment for ₦50,000 Purchased office furniture for ₦30,000 Sold office equipment for ₦20,000 What is the net increase in the company's assets for the year ended December 31, 2022?

Answer Options

A. ₦10,000
Correct Answer B. ₦20,000
C. ₦30,000
D. ₦40,000
Correct Answer
B
Correct Option:
₦20,000

About This Question

This is Post Utme Lautech 2023 Accounting Question 3. It is one of the objective questions from the 2023 Post Utme Lautech Accounting examination.

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