Post Utme Veritas University 2022 Accounting Question 31

Practice objective / multiple choice question 31 from the 2022 Post Utme Veritas University Accounting examination.

Post Utme Veritas University 2022 Accounting Objective / Multiple Choice
Question 31 POST_UTME_VERITAS_UNIVERSITY • 2022 • ACCOUNTING • objective

A company has the following transactions during the year ended December 31, 2022: Purchased office equipment for ₦200,000; Sold office equipment for ₦150,000; Purchased office supplies for ₦30,000; Sold office supplies for ₦20,000. Prepare the statement of cash flows for the above transactions.

Answer Options

Correct Answer A. Cash Flows from Operating Activities ₦50,000, Cash Flows from Investing Activities ₦50,000
B. Cash Flows from Operating Activities ₦20,000, Cash Flows from Investing Activities ₦30,000
C. Cash Flows from Operating Activities ₦30,000, Cash Flows from Investing Activities ₦20,000
D. Cash Flows from Operating Activities ₦50,000, Cash Flows from Financing Activities ₦50,000
Correct Answer
A
Correct Option:
Cash Flows from Operating Activities ₦50,000, Cash Flows from Investing Activities ₦50,000

About This Question

This is Post Utme Veritas University 2022 Accounting Question 31. It is one of the objective questions from the 2022 Post Utme Veritas University Accounting examination.

View More Post Utme Veritas University 2022 Accounting Questions More Post Utme Veritas University Practice Questions Back to Questions

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