Post Utme Skyline University 2020 Accounting Question 15

Practice objective / multiple choice question 15 from the 2020 Post Utme Skyline University Accounting examination.

Post Utme Skyline University 2020 Accounting Objective / Multiple Choice
Question 15 POST_UTME_SKYLINE_UNIVERSITY • 2020 • ACCOUNTING • objective

A company's balance sheet as of December 31, 2020, is as follows: Assets Cash ₦50,000 Accounts Receivable ₦30,000 Inventory ₦20,000 Total Assets ₦100,000 Liabilities Accounts Payable ₦10,000 Salaries Payable ₦20,000 Total Liabilities ₦30,000 What is the total equity?

Answer Options

A. ₦70,000
B. ₦80,000
C. ₦90,000
Correct Answer D. ₦100,000
Correct Answer
D
Correct Option:
₦100,000

About This Question

This is Post Utme Skyline University 2020 Accounting Question 15. It is one of the objective questions from the 2020 Post Utme Skyline University Accounting examination.

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