Post Utme Mountain Top University 2018 Accounting Question 31

Practice objective / multiple choice question 31 from the 2018 Post Utme Mountain Top University Accounting examination.

Post Utme Mountain Top University 2018 Accounting Objective / Multiple Choice
Question 31 POST_UTME_MOUNTAIN_TOP_UNIVERSITY • 2018 • ACCOUNTING • objective

A company uses the single entry system of accounting. The company's assets increased by ₦120,000, and its liabilities decreased by ₦80,000. What is the owner's equity increase?

Answer Options

Correct Answer A. ₦40,000
B. ₦60,000
C. ₦80,000
D. ₦100,000
Correct Answer
A
Correct Option:
₦40,000

About This Question

This is Post Utme Mountain Top University 2018 Accounting Question 31. It is one of the objective questions from the 2018 Post Utme Mountain Top University Accounting examination.

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