Post Utme Rsu 2024 Accounting Question 1

Practice objective / multiple choice question 1 from the 2024 Post Utme Rsu Accounting examination.

Post Utme Rsu 2024 Accounting Objective / Multiple Choice
Question 1 POST_UTME_RSU • 2024 • ACCOUNTING • objective

A company uses the single-entry system of accounting. The company's assets increased by ₦120,000 and its liabilities increased by ₦80,000. What is the amount of the company's equity?

Answer Options

Correct Answer A. ₦40,000
B. ₦60,000
C. ₦80,000
D. ₦120,000
Correct Answer
A
Correct Option:
₦40,000

About This Question

This is Post Utme Rsu 2024 Accounting Question 1. It is one of the objective questions from the 2024 Post Utme Rsu Accounting examination.

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