AdmitMe
Accounts (Principles of Accounts) · Nature and purpose of accounting

Accounts (Principles of Accounts)Nature and purpose of accountingJAMB

A business starts with cash of ₦200,000 and a bank loan of ₦50,000. Its capital is

Show answer

Answer: D. ₦150,000

Capital = assets − liabilities = 200,000 − 50,000.

An AdmitMe practice question, written for the JAMB syllabus. Not an official past question.

Practise Nature and purpose of accountingA timed set on this topic, freeAsk the AI TutorExplain it another way

Discussion

Ask about a step, share a shortcut, or explain it your way. Be kind; no links.

No comments yet. Be the first to explain it.

More Nature and purpose of accounting questions