Post Utme Uniport 2019 Accounting Question 40
Practice objective / multiple choice question 40 from the 2019 Post Utme Uniport Accounting examination.
A company's balance sheet as at 31st December, 2022 is as follows: | Asset | ₦ | Liability | ₦ | Equity | ₦ | | --- | --- | --- | --- | --- | --- | | Cash | 50,000 | Accounts Payable | 30,000 | Retained Earnings | 20,000 | | Accounts Receivable | 40,000 | Notes Payable | 20,000 | Common Stock | 30,000 | | Inventory | 80,000 | Total Liabilities | 50,000 | Total Equity | 80,000 | | Total Assets | 170,000 | | | | | Identify the error in the balance sheet.
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About This Question
This is Post Utme Uniport 2019 Accounting Question 40. It is one of the objective questions from the 2019 Post Utme Uniport Accounting examination.
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