Post Utme Noun 2017 Accounting Question 31

Practice objective / multiple choice question 31 from the 2017 Post Utme Noun Accounting examination.

Post Utme Noun 2017 Accounting Objective / Multiple Choice
Question 31 POST_UTME_NOUN • 2017 • ACCOUNTING • objective

A company's balance sheet as at 31st December 2019 shows a total equity of ₦5,000,000. The company's profit and loss account for the same period shows a net profit of ₦2,000,000. What is the amount of the company's retained earnings?

Answer Options

A. ₦2,000,000
B. ₦3,000,000
C. ₦4,000,000
Correct Answer D. ₦5,000,000
Correct Answer
D
Correct Option:
₦5,000,000

About This Question

This is Post Utme Noun 2017 Accounting Question 31. It is one of the objective questions from the 2017 Post Utme Noun Accounting examination.

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