Post Utme Coal City University 2021 Accounting Question 8

Practice objective / multiple choice question 8 from the 2021 Post Utme Coal City University Accounting examination.

Post Utme Coal City University 2021 Accounting Objective / Multiple Choice
Question 8 POST_UTME_COAL_CITY_UNIVERSITY • 2021 • ACCOUNTING • objective

A company's income statement for the year ended December 31, 2021, shows the following: Sales Revenue ₦1,000,000, Cost of Goods Sold ₦600,000, Operating Expenses ₦150,000, and Net Income ₦250,000. Prepare the company's statement of cash flows using the indirect method.

Answer Options

Correct Answer A. Cash Flows from Operating Activities ₦500,000, Cash Flows from Investing Activities ₦200,000, Cash Flows from Financing Activities ₦100,000
B. Cash Flows from Operating Activities ₦600,000, Cash Flows from Investing Activities ₦300,000, Cash Flows from Financing Activities ₦200,000
C. Cash Flows from Operating Activities ₦700,000, Cash Flows from Investing Activities ₦400,000, Cash Flows from Financing Activities ₦300,000
D. Cash Flows from Operating Activities ₦800,000, Cash Flows from Investing Activities ₦500,000, Cash Flows from Financing Activities ₦400,000
Correct Answer
A
Correct Option:
Cash Flows from Operating Activities ₦500,000, Cash Flows from Investing Activities ₦200,000, Cash Flows from Financing Activities ₦100,000

About This Question

This is Post Utme Coal City University 2021 Accounting Question 8. It is one of the objective questions from the 2021 Post Utme Coal City University Accounting examination.

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