Post Utme Madonna University 2024 Commerce Question 14

Practice objective / multiple choice question 14 from the 2024 Post Utme Madonna University Commerce examination.

Post Utme Madonna University 2024 Commerce Objective / Multiple Choice

Question 14 POST_UTME_MADONNA_UNIVERSITY • 2024 • COMMERCE • objective

A company's financial statements show a net loss of ₦1,000,000 for the year. What is the effect of this loss on the company's equity?

Answer Options

A. The company's equity increases by ₦1,000,000

Correct Answer B. The company's equity decreases by ₦1,000,000

C. The company's equity remains unchanged

D. The company's equity increases by ₦2,000,000

Correct Answer

Correct Option:

The company's equity decreases by ₦1,000,000

About This Question

This is Post Utme Madonna University 2024 Commerce Question 14. It is one of the objective questions from the 2024 Post Utme Madonna University Commerce examination.

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