Post Utme Skyline University 2018 Accounting Question 24

Practice objective / multiple choice question 24 from the 2018 Post Utme Skyline University Accounting examination.

Post Utme Skyline University 2018 Accounting Objective / Multiple Choice
Question 24 POST_UTME_SKYLINE_UNIVERSITY • 2018 • ACCOUNTING • objective

A government agency uses the accrual basis of accounting. The agency receives ₦100,000 in cash from customers and records a revenue of ₦120,000. What is the net effect on the agency's cash balance?

Answer Options

A. ₦20,000 increase
Correct Answer B. ₦20,000 decrease
C. ₦40,000 increase
D. ₦40,000 decrease
Correct Answer
B
Correct Option:
₦20,000 decrease

About This Question

This is Post Utme Skyline University 2018 Accounting Question 24. It is one of the objective questions from the 2018 Post Utme Skyline University Accounting examination.

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