Post Utme Covenant University 2024 Accounting Question 9

Practice objective / multiple choice question 9 from the 2024 Post Utme Covenant University Accounting examination.

Post Utme Covenant University 2024 Accounting Objective / Multiple Choice
Question 9 POST_UTME_COVENANT_UNIVERSITY • 2024 • ACCOUNTING • objective

A company has the following transactions for the year ended December 31, 2024: Debit Cash: ₦100,000 Accounts Payable: ₦50,000 Credit Sales: ₦150,000 Cost of Goods Sold: ₦80,000 What is the net income for the year?

Answer Options

A. ₦20,000
Correct Answer B. ₦30,000
C. ₦40,000
D. ₦50,000
Correct Answer
B
Correct Option:
₦30,000

About This Question

This is Post Utme Covenant University 2024 Accounting Question 9. It is one of the objective questions from the 2024 Post Utme Covenant University Accounting examination.

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