Post Utme Mountain Top University 2019 Commerce Question 10

Practice objective / multiple choice question 10 from the 2019 Post Utme Mountain Top University Commerce examination.

Post Utme Mountain Top University 2019 Commerce Objective / Multiple Choice
Question 10 POST_UTME_MOUNTAIN_TOP_UNIVERSITY • 2019 • COMMERCE • objective

A bank has the following financial statements: income statement and balance sheet. Which of the following is a correct statement about the bank's financial position?

Answer Options

Correct Answer A. The bank's net worth is equal to the total assets minus total liabilities.
B. The bank's net worth is equal to the total equity plus total liabilities.
C. The bank's net worth is equal to the total assets minus total equity.
D. The bank's net worth is equal to the total liabilities minus total assets.
Correct Answer
A
Correct Option:
The bank's net worth is equal to the total assets minus total liabilities.

About This Question

This is Post Utme Mountain Top University 2019 Commerce Question 10. It is one of the objective questions from the 2019 Post Utme Mountain Top University Commerce examination.

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