Post Utme Accounts - Principles of Accounts Questions
Question 241:
Assets are ₦2,600,000 while liabilities are ₦1,100,000. Capital is:
- A ₦2,600,000 capital
- B ₦3,700,000 capital
- C ₦1,100,000 capital
- D ₦1,500,000 capital
Question 242:
Capital stands at ₦950,000 while liabilities are ₦250,000. Assets total:
- A ₦1,200,000 assets
- B ₦950,000 assets
- C ₦250,000 assets
- D ₦700,000 assets
Question 243:
Total assets are ₦990,000 and capital is ₦640,000. Liabilities equal:
- A ₦1,630,000 liabilities
- B ₦640,000 liabilities
- C ₦350,000 liabilities
- D ₦990,000 liabilities
Question 244:
If total assets are ₦720,000 and capital is ₦500,000, liabilities equal:
- A ₦500,000 liabilities
- B ₦220,000 liabilities
- C ₦720,000 liabilities
- D ₦1,220,000 liabilities
Question 245:
Public sector accounting mainly deals with:
- A Manufacturing cost accounts
- B Partnership profit sharing
- C Private business records
- D Government financial activities