Post Utme Christopher University 2025 Accounting Question 23

Practice objective / multiple choice question 23 from the 2025 Post Utme Christopher University Accounting examination.

Post Utme Christopher University 2025 Accounting Objective / Multiple Choice
Question 23 POST_UTME_CHRISTOPHER_UNIVERSITY • 2025 • ACCOUNTING • objective

A company's income statement for the year ended December 31, 2024, showed the following: Sales ₦500,000, Cost of Goods Sold ₦300,000, Gross Profit ₦200,000, Operating Expenses ₦50,000, Net Income ₦150,000. Prepare the company's income statement.

Answer Options

Correct Answer A. Sales ₦500,000, Cost of Goods Sold ₦300,000, Gross Profit ₦200,000, Operating Expenses ₦50,000, Net Income ₦150,000
B. Sales ₦500,000, Cost of Goods Sold ₦300,000, Gross Profit ₦200,000, Operating Expenses ₦50,000, Net Income ₦150,000
C. Sales ₦500,000, Cost of Goods Sold ₦300,000, Gross Profit ₦200,000, Operating Expenses ₦50,000, Net Income ₦150,000
D. Sales ₦500,000, Cost of Goods Sold ₦300,000, Gross Profit ₦200,000, Operating Expenses ₦50,000, Net Income ₦150,000
Correct Answer
A
Correct Option:
Sales ₦500,000, Cost of Goods Sold ₦300,000, Gross Profit ₦200,000, Operating Expenses ₦50,000, Net Income ₦150,000

About This Question

This is Post Utme Christopher University 2025 Accounting Question 23. It is one of the objective questions from the 2025 Post Utme Christopher University Accounting examination.

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