Post Utme Rsu 2023 Accounting Question 22

Practice objective / multiple choice question 22 from the 2023 Post Utme Rsu Accounting examination.

Post Utme Rsu 2023 Accounting Objective / Multiple Choice
Question 22 POST_UTME_RSU • 2023 • ACCOUNTING • objective

A company has the following balance sheet: | Asset | Liability | Equity | | --- | --- | --- | | Cash | ₦10,000 | ₦0 | | Accounts Payable | ₦0 | ₦15,000 | | Sales Revenue | ₦0 | ₦20,000 | | Cost of Goods Sold | ₦8,000 | ₦0 | | Total | ₦18,000 | ₦35,000 | What is the correct accounting equation?

Answer Options

Correct Answer A. Assets = Liabilities + Equity
B. Assets - Liabilities = Equity
C. Liabilities - Assets = Equity
D. Equity - Liabilities = Assets
Correct Answer
A
Correct Option:
Assets = Liabilities + Equity

About This Question

This is Post Utme Rsu 2023 Accounting Question 22. It is one of the objective questions from the 2023 Post Utme Rsu Accounting examination.

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