Post Utme Achievers University 2021 Accounting Question 17
Practice objective / multiple choice question 17 from the 2021 Post Utme Achievers University Accounting examination.
A company prepares its trial balance on December 31, 2022. The trial balance shows the following accounts: Cash ₦100,000, Accounts Payable ₦50,000, Sales Revenue ₦500,000, Cost of Goods Sold ₦300,000, and Common Stock ₦200,000. The company's accountant discovers that the Sales Revenue account was incorrectly recorded as ₦500,000 instead of ₦400,000. What is the correct amount of net income for the year?
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About This Question
This is Post Utme Achievers University 2021 Accounting Question 17. It is one of the objective questions from the 2021 Post Utme Achievers University Accounting examination.
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