Post Utme Bells University 2019 Accounting Question 35

Practice objective / multiple choice question 35 from the 2019 Post Utme Bells University Accounting examination.

Post Utme Bells University 2019 Accounting Objective / Multiple Choice
Question 35 POST_UTME_BELLS_UNIVERSITY • 2019 • ACCOUNTING • objective

A company's income statement shows the following balances: Sales Revenue ₦100,000; Cost of Goods Sold ₦50,000. What is the net effect of these transactions on the company's financial position?

Answer Options

Correct Answer A. Increase in assets
B. Decrease in assets
C. Increase in liabilities
D. Decrease in liabilities
Correct Answer
A
Correct Option:
Increase in assets

About This Question

This is Post Utme Bells University 2019 Accounting Question 35. It is one of the objective questions from the 2019 Post Utme Bells University Accounting examination.

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