Post Utme Redeemers University 2020 Accounting Question 38

Practice objective / multiple choice question 38 from the 2020 Post Utme Redeemers University Accounting examination.

Post Utme Redeemers University 2020 Accounting Objective / Multiple Choice
Question 38 POST_UTME_REDEEMERS_UNIVERSITY • 2020 • ACCOUNTING • objective

A company's balance sheet shows a current asset of ₦50,000 in the account 'Accounts Receivable' and a current liability of ₦30,000 in the account 'Accounts Payable'. What is the correct accounting equation to represent this situation?

Answer Options

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

About This Question

This is Post Utme Redeemers University 2020 Accounting Question 38. It is one of the objective questions from the 2020 Post Utme Redeemers University Accounting examination.

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