Post Utme Abu 2020 Accounting Question 21

Practice objective / multiple choice question 21 from the 2020 Post Utme Abu Accounting examination.

Post Utme Abu 2020 Accounting Objective / Multiple Choice
Question 21 POST_UTME_ABU • 2020 • ACCOUNTING • objective

A company uses the single-entry system of accounting. The trial balance shows the following balances: Cash 10,000, Accounts Payable 5,000, and Common Stock 20,000. What is the net income for the period?

Answer Options

A. 5,000
B. 10,000
Correct Answer C. 15,000
D. 20,000
Correct Answer
C
Correct Option:
15,000

About This Question

This is Post Utme Abu 2020 Accounting Question 21. It is one of the objective questions from the 2020 Post Utme Abu Accounting examination.

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