Post Utme Rsu 2021 Accounting Question 8

Practice objective / multiple choice question 8 from the 2021 Post Utme Rsu Accounting examination.

Post Utme Rsu 2021 Accounting Objective / Multiple Choice
Question 8 POST_UTME_RSU • 2021 • ACCOUNTING • objective

A company prepares its final accounts and discovers that the profit for the year is ₦50,000. However, the company has a cash surplus of ₦20,000. What is the reason for the difference?

Answer Options

A. The company has not recorded all its revenues.
B. The company has not recorded all its expenses.
Correct Answer C. The company has a cash surplus due to the sale of assets.
D. The company has a cash deficit due to the purchase of assets.
Correct Answer
C
Correct Option:
The company has a cash surplus due to the sale of assets.

About This Question

This is Post Utme Rsu 2021 Accounting Question 8. It is one of the objective questions from the 2021 Post Utme Rsu Accounting examination.

View More Post Utme Rsu 2021 Accounting Questions More Post Utme Rsu Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support