Post Utme Mountain Top University 2021 Accounting Question 4

Practice objective / multiple choice question 4 from the 2021 Post Utme Mountain Top University Accounting examination.

Post Utme Mountain Top University 2021 Accounting Objective / Multiple Choice
Question 4 POST_UTME_MOUNTAIN_TOP_UNIVERSITY • 2021 • ACCOUNTING • objective

A company issued 10,000 debentures of ₦100 each at a premium of ₦10 per debenture. The debentures were issued for ₦120 each. Calculate the amount received from the issue of debentures.

Answer Options

A. ₦1,200,000
Correct Answer B. ₦1,500,000
C. ₦1,800,000
D. ₦2,000,000
Correct Answer
B
Correct Option:
₦1,500,000

About This Question

This is Post Utme Mountain Top University 2021 Accounting Question 4. It is one of the objective questions from the 2021 Post Utme Mountain Top University Accounting examination.

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