Post Utme Rsu 2021 Accounting Question 13

Practice objective / multiple choice question 13 from the 2021 Post Utme Rsu Accounting examination.

Post Utme Rsu 2021 Accounting Objective / Multiple Choice
Question 13 POST_UTME_RSU • 2021 • ACCOUNTING • objective

A company's balance sheet as at December 31, 2020, showed total assets of ₦500,000 and total liabilities of ₦200,000. If the company's net income for the year was ₦150,000, what was the total equity as at December 31, 2021?

Answer Options

A. ₦550,000
B. ₦600,000
Correct Answer C. ₦650,000
D. ₦700,000
Correct Answer
C
Correct Option:
₦650,000

About This Question

This is Post Utme Rsu 2021 Accounting Question 13. It is one of the objective questions from the 2021 Post Utme Rsu Accounting examination.

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