Post Utme Caleb University 2020 Accounting Question 7

Practice objective / multiple choice question 7 from the 2020 Post Utme Caleb University Accounting examination.

Post Utme Caleb University 2020 Accounting Objective / Multiple Choice
Question 7 POST_UTME_CALEB_UNIVERSITY • 2020 • ACCOUNTING • objective

A company's balance sheet shows a decrease in inventory of ₦10,000. What is the effect on the company's net income?

Answer Options

A. Increase in net income by ₦10,000
Correct Answer B. Decrease in net income by ₦10,000
C. No effect on net income
D. Increase in net income by ₦20,000
Correct Answer
B
Correct Option:
Decrease in net income by ₦10,000

About This Question

This is Post Utme Caleb University 2020 Accounting Question 7. It is one of the objective questions from the 2020 Post Utme Caleb University Accounting examination.

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