Post Utme Veritas University 2024 Accounting Question 13

Practice objective / multiple choice question 13 from the 2024 Post Utme Veritas University Accounting examination.

Post Utme Veritas University 2024 Accounting Objective / Multiple Choice
Question 13 POST_UTME_VERITAS_UNIVERSITY • 2024 • ACCOUNTING • objective

A government agency uses the accrual basis of accounting. The agency's financial statements show the following: Current Assets ₦1,000,000, Current Liabilities ₦500,000, Non-Current Assets ₦2,000,000, Non-Current Liabilities ₦1,500,000. What is the agency's net worth?

Answer Options

A. ₦1,000,000
B. ₦1,500,000
Correct Answer C. ₦2,000,000
D. ₦2,500,000
Correct Answer
C
Correct Option:
₦2,000,000

About This Question

This is Post Utme Veritas University 2024 Accounting Question 13. It is one of the objective questions from the 2024 Post Utme Veritas University Accounting examination.

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