Post Utme Veritas University 2021 Accounting Question 13

Practice objective / multiple choice question 13 from the 2021 Post Utme Veritas University Accounting examination.

Post Utme Veritas University 2021 Accounting Objective / Multiple Choice
Question 13 POST_UTME_VERITAS_UNIVERSITY • 2021 • ACCOUNTING • objective

A company uses the accrual method of accounting. On December 31, 2022, it had the following accounts: Accounts Receivable ₦100,000, Accounts Payable ₦50,000, and Salaries Expense ₦20,000. What is the total amount of cash received from customers during the year?

Answer Options

A. ₦120,000
Correct Answer B. ₦130,000
C. ₦140,000
D. ₦150,000
Correct Answer
B
Correct Option:
₦130,000

About This Question

This is Post Utme Veritas University 2021 Accounting Question 13. It is one of the objective questions from the 2021 Post Utme Veritas University 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