Utme 2021 Commerce Question 13

Practice objective / multiple choice question 13 from the 2021 Utme Commerce examination. This question covers Finance .

Utme 2021 Commerce Objective / Multiple Choice 2 Difficulty
Topic: Finance
Question 13 UTME • 2021 • COMMERCE • objective
TABLE - Balance Sheet
Use the information below to answer questions 13 and 14. \( \text{ABC Balance Sheet as at 31/12/2004} \) \( \begin{array}{l r | l r} \\ \hline & \mathbb{N} & & \mathbb{N} \\ \text{Share capital} & 200,000 & \text{Fixed assets} & 180,000 \\ \text{Reserves} & 100,000 & \text{Investment} & 100,000 \\ \text{Long term liabilities} & 40,000 & \text{Current assets} & 50,000 \\ \text{Current liabilities} & \underline{30,000} & \text{Fictitious assets} & \underline{40,000} \\ \hline \text{Total} & \underline{\underline{370,000}} & \text{Total} & \underline{\underline{370,000}} \\ \hline \end{array} \)

The total sum for financing short term projects is

Answer Options

Correct Answer A. N30,000. B
B. N200,000. C
C. N70,000. D
D. N40,000
Correct Answer
A
Correct Option:
N30,000. B

About This Question

This is Utme 2021 Commerce Question 13. It is one of the objective questions from the 2021 Utme Commerce examination.

The question covers Finance .

Difficulty level: 2 .

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