Post Utme Achievers University 2021 Accounting Question 20
Practice objective / multiple choice question 20 from the 2021 Post Utme Achievers University Accounting examination.
A company uses the periodic inventory system. The company's inventory account is debited for the cost of goods sold and credited for the cost of goods purchased. The company's accountant discovers that the cost of goods sold account was incorrectly recorded as ₦300,000 instead of ₦250,000. 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 20. It is one of the objective questions from the 2021 Post Utme Achievers University Accounting examination.
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