Post Utme Caleb University 2019 Accounting Question 20

Practice objective / multiple choice question 20 from the 2019 Post Utme Caleb University Accounting examination.

Post Utme Caleb University 2019 Accounting Objective / Multiple Choice
Question 20 POST_UTME_CALEB_UNIVERSITY • 2019 • ACCOUNTING • objective

A company's income statement for the year ended December 31 shows the following: Sales ₦1,000,000, Cost of Goods Sold ₦600,000, Operating Expenses ₦200,000, Net Income ₦150,000. Prepare the company's statement of cash flows.

Answer Options

Correct Answer A. Cash Flows from Operating Activities: ₦400,000, Cash Flows from Investing Activities: ₦0, Cash Flows from Financing Activities: ₦0
B. Cash Flows from Operating Activities: ₦500,000, Cash Flows from Investing Activities: ₦0, Cash Flows from Financing Activities: ₦0
C. Cash Flows from Operating Activities: ₦600,000, Cash Flows from Investing Activities: ₦0, Cash Flows from Financing Activities: ₦0
D. Cash Flows from Operating Activities: ₦700,000, Cash Flows from Investing Activities: ₦0, Cash Flows from Financing Activities: ₦0
Correct Answer
A
Correct Option:
Cash Flows from Operating Activities: ₦400,000, Cash Flows from Investing Activities: ₦0, Cash Flows from Financing Activities: ₦0

About This Question

This is Post Utme Caleb University 2019 Accounting Question 20. It is one of the objective questions from the 2019 Post Utme Caleb University Accounting examination.

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