Post Utme Bsu 2023 Accounting Question 8
Practice objective / multiple choice question 8 from the 2023 Post Utme Bsu Accounting examination.
A company uses the single-entry system of accounting. The company's trial balance as at 31st December 2022 is as follows: | Account | Debit | Credit | | --- | --- | --- | | Cash | ₦150,000 | ₦0 | | Accounts Payable | ₦0 | ₦70,000 | | Sales Revenue | ₦0 | ₦210,000 | | Cost of Goods Sold | ₦0 | ₦120,000 | | Net Income | ₦0 | ₦0 | | Total | ₦150,000 | ₦400,000 | What is the amount of the company's net income for the year ended 31st December 2022?
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About This Question
This is Post Utme Bsu 2023 Accounting Question 8. It is one of the objective questions from the 2023 Post Utme Bsu Accounting examination.
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