Post Utme Achievers University 2023 Accounting Question 2

Practice objective / multiple choice question 2 from the 2023 Post Utme Achievers University Accounting examination.

Post Utme Achievers University 2023 Accounting Objective / Multiple Choice
Question 2 POST_UTME_ACHIEVERS_UNIVERSITY • 2023 • ACCOUNTING • objective

A company's trial balance showed the following balances: Accounts Payable £ 10,000, Accounts Receivable £ 5,000, Sales Revenue £ 20,000, Cost of Goods Sold £ 15,000. Prepare the income statement.

Answer Options

Correct Answer A. Sales Revenue £ 20,000, Cost of Goods Sold £ 15,000, Net Income £ 5,000
B. Sales Revenue £ 20,000, Cost of Goods Sold £ 15,000, Net Income £ 5,000
C. Sales Revenue £ 20,000, Cost of Goods Sold £ 15,000, Net Income £ 5,000
D. Sales Revenue £ 20,000, Cost of Goods Sold £ 15,000, Net Income £ 5,000
Correct Answer
A
Correct Option:
Sales Revenue £ 20,000, Cost of Goods Sold £ 15,000, Net Income £ 5,000

About This Question

This is Post Utme Achievers University 2023 Accounting Question 2. It is one of the objective questions from the 2023 Post Utme Achievers University Accounting examination.

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