Post Utme Veritas University 2025 Accounting Question 38

Practice objective / multiple choice question 38 from the 2025 Post Utme Veritas University Accounting examination.

Post Utme Veritas University 2025 Accounting Objective / Multiple Choice
Question 38 POST_UTME_VERITAS_UNIVERSITY • 2025 • ACCOUNTING • objective

A company's trial balance shows the following balances: Accounts Payable ₦50,000, Accounts Receivable ₦30,000, Common Stock ₦100,000, Retained Earnings ₦50,000. Prepare a balance sheet for the company.

Answer Options

Correct Answer A. Assets ₦200,000, Liabilities ₦50,000, Equity ₦150,000
B. Assets ₦150,000, Liabilities ₦50,000, Equity ₦100,000
C. Assets ₦250,000, Liabilities ₦50,000, Equity ₦200,000
D. Assets ₦200,000, Liabilities ₦50,000, Equity ₦150,000
Correct Answer
A
Correct Option:
Assets ₦200,000, Liabilities ₦50,000, Equity ₦150,000

About This Question

This is Post Utme Veritas University 2025 Accounting Question 38. It is one of the objective questions from the 2025 Post Utme Veritas University Accounting examination.

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