Post Utme Crawford University 2022 Accounting Question 5

Practice objective / multiple choice question 5 from the 2022 Post Utme Crawford University Accounting examination.

Post Utme Crawford University 2022 Accounting Objective / Multiple Choice
Question 5 POST_UTME_CRAWFORD_UNIVERSITY • 2022 • ACCOUNTING • objective

A company has the following trial balance: Accounts Payable 10,000, Accounts Receivable 5,000, Common Stock 20,000. Prepare the income statement.

Answer Options

A. Revenues: 0. Expenses: 0. Net Income: 0
B. Revenues: 0. Expenses: 0. Net Income: 20,000
Correct Answer C. Revenues: 25,000. Expenses: 25,000. Net Income: 0
D. Revenues: 25,000. Expenses: 0. Net Income: 25,000
Correct Answer
C
Correct Option:
Revenues: 25,000. Expenses: 25,000. Net Income: 0

About This Question

This is Post Utme Crawford University 2022 Accounting Question 5. It is one of the objective questions from the 2022 Post Utme Crawford University Accounting examination.

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