Post Utme Bowen University 2025 Accounting Question 10

Practice objective / multiple choice question 10 from the 2025 Post Utme Bowen University Accounting examination.

Post Utme Bowen University 2025 Accounting Objective / Multiple Choice
Question 10 POST_UTME_BOWEN_UNIVERSITY • 2025 • ACCOUNTING • objective

A company uses the single-entry system of accounting. The company's assets, liabilities, and equity at the beginning of the year were ₦100,000, ₦50,000, and ₦50,000, respectively. During the year, the company purchased equipment for ₦20,000 and sold goods for ₦30,000. The company's net income for the year is ₦

Answer Options

A. ₦10,000
B. ₦20,000
Correct Answer C. ₦30,000
D. ₦40,000
Correct Answer
C
Correct Option:
₦30,000

About This Question

This is Post Utme Bowen University 2025 Accounting Question 10. It is one of the objective questions from the 2025 Post Utme Bowen University Accounting examination.

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