Post Utme Madonna University 2023 Accounting Question 15
Practice objective / multiple choice question 15 from the 2023 Post Utme Madonna University Accounting examination.
A company's balance sheet as at 31st December, 2022 is as follows: ₦ Assets: Cash and Bank Balances: ₦120,000 Accounts Receivable: ₦80,000 Inventory: ₦150,000 Total Assets: ₦350,000 Liabilities: Accounts Payable: ₦100,000 Long-term Debt: ₦200,000 Total Liabilities: ₦300,000 Equity: Common Stock: ₦50,000 Retained Earnings: ₦0 Total Equity: ₦50,000 Total Liabilities and Equity: ₦350,000 What is the company's debt-to-equity ratio?
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About This Question
This is Post Utme Madonna University 2023 Accounting Question 15. It is one of the objective questions from the 2023 Post Utme Madonna University Accounting examination.
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