Post Utme Unilorin 2017 Accounting Question 17
Practice objective / multiple choice question 17 from the 2017 Post Utme Unilorin Accounting examination.
A public sector organization uses the self-balancing ledger system. The ledger shows the following balances: Cash ₦ 100,000, Accounts Payable ₦ 50,000, and Common Stock ₦ 200,000. If the organization's net income for the period is ₦ 30,000, what is the balance in the Retained Earnings account?
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About This Question
This is Post Utme Unilorin 2017 Accounting Question 17. It is one of the objective questions from the 2017 Post Utme Unilorin Accounting examination.
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