Post Utme Redeemers University 2020 Accounting Question 40

Practice objective / multiple choice question 40 from the 2020 Post Utme Redeemers University Accounting examination.

Post Utme Redeemers University 2020 Accounting Objective / Multiple Choice
Question 40 POST_UTME_REDEEMERS_UNIVERSITY • 2020 • ACCOUNTING • objective

A company's balance sheet shows a non-current asset of ₦100,000 in the account 'Land' and a non-current liability of ₦80,000 in the account 'Bonds Payable'. What is the correct accounting equation to represent this situation?

Answer Options

Correct Answer A. ₦100,000 = ₦80,000 + ₦20,000
B. ₦100,000 = ₦20,000 + ₦80,000
C. ₦80,000 = ₦100,000 - ₦20,000
D. ₦80,000 = ₦20,000 - ₦100,000
Correct Answer
A
Correct Option:
₦100,000 = ₦80,000 + ₦20,000

About This Question

This is Post Utme Redeemers University 2020 Accounting Question 40. It is one of the objective questions from the 2020 Post Utme Redeemers University Accounting examination.

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