Post Utme Osustech 2019 Accounting Question 34

Practice objective / multiple choice question 34 from the 2019 Post Utme Osustech Accounting examination.

Post Utme Osustech 2019 Accounting Objective / Multiple Choice
Question 34 POST_UTME_OSUSTECH • 2019 • ACCOUNTING • objective

A company has the following transactions: Purchased goods on credit for ₦60,000, sold goods on credit for ₦80,000, and paid cash for office expenses of ₦15,000. What is the net effect on the company's equity?

Answer Options

A. +₦20,000
B. +₦30,000
Correct Answer C. +₦40,000
D. +₦50,000
Correct Answer
C
Correct Option:
+₦40,000

About This Question

This is Post Utme Osustech 2019 Accounting Question 34. It is one of the objective questions from the 2019 Post Utme Osustech Accounting examination.

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