Post Utme Uniben 2022 Accounting Question 2

Practice objective / multiple choice question 2 from the 2022 Post Utme Uniben Accounting examination.

Post Utme Uniben 2022 Accounting Objective / Multiple Choice
Question 2 POST_UTME_UNIBEN • 2022 • ACCOUNTING • objective

A company uses the single entry system to record its transactions. The company's assets increased by ₦50,000 and its liabilities increased by ₦20,000. What is the net increase in the company's equity?

Answer Options

A. ₦30,000
Correct Answer B. ₦40,000
C. ₦50,000
D. ₦60,000
Correct Answer
B
Correct Option:
₦40,000

About This Question

This is Post Utme Uniben 2022 Accounting Question 2. It is one of the objective questions from the 2022 Post Utme Uniben Accounting examination.

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