Post Utme Bsu 2021 Accounting Question 17

Practice objective / multiple choice question 17 from the 2021 Post Utme Bsu Accounting examination.

Post Utme Bsu 2021 Accounting Objective / Multiple Choice
Question 17 POST_UTME_BSU • 2021 • ACCOUNTING • objective

A company uses the single-entry system of accounting. The company's assets at the beginning of the year were ₦1,000,000, and the assets at the end of the year were ₦1,500,000. The company's expenses for the year were ₦200,000. Calculate the company's net income for the year.

Answer Options

A. ₦300,000
B. ₦400,000
C. ₦500,000
Correct Answer D. ₦600,000
Correct Answer
D
Correct Option:
₦600,000

About This Question

This is Post Utme Bsu 2021 Accounting Question 17. It is one of the objective questions from the 2021 Post Utme Bsu Accounting examination.

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support