Post Utme Osustech 2017 Accounting Question 2

Practice objective / multiple choice question 2 from the 2017 Post Utme Osustech Accounting examination.

Post Utme Osustech 2017 Accounting Objective / Multiple Choice
Question 2 POST_UTME_OSUSTECH • 2017 • ACCOUNTING • objective

A company's balance sheet as at 31st December 2022 is as follows: ₦1,000,000 in cash, ₦500,000 in accounts receivable, ₦200,000 in inventory, ₦300,000 in accounts payable, and ₦400,000 in long-term debt. Prepare the company's statement of cash flows for the year.

Answer Options

Correct Answer A. ₦1,000,000 (Cash) + ₦500,000 (Accounts Receivable) + ₦200,000 (Inventory) - ₦300,000 (Accounts Payable) - ₦400,000 (Long-term Debt)
B. ₦1,000,000 (Cash) - ₦500,000 (Accounts Receivable) - ₦200,000 (Inventory) + ₦300,000 (Accounts Payable) + ₦400,000 (Long-term Debt)
C. ₦1,000,000 (Cash) + ₦500,000 (Accounts Receivable) - ₦200,000 (Inventory) - ₦300,000 (Accounts Payable) + ₦400,000 (Long-term Debt)
D. ₦1,000,000 (Cash) - ₦500,000 (Accounts Receivable) + ₦200,000 (Inventory) + ₦300,000 (Accounts Payable) - ₦400,000 (Long-term Debt)
Correct Answer
A
Correct Option:
₦1,000,000 (Cash) + ₦500,000 (Accounts Receivable) + ₦200,000 (Inventory) - ₦300,000 (Accounts Payable) - ₦400,000 (Long-term Debt)

About This Question

This is Post Utme Osustech 2017 Accounting Question 2. It is one of the objective questions from the 2017 Post Utme Osustech Accounting examination.

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