Post Utme Crawford University 2024 Accounting Question 28

Practice objective / multiple choice question 28 from the 2024 Post Utme Crawford University Accounting examination.

Post Utme Crawford University 2024 Accounting Objective / Multiple Choice
Question 28 POST_UTME_CRAWFORD_UNIVERSITY • 2024 • ACCOUNTING • objective

A company uses the single-entry system. The following transactions occurred during the year: Cash sales ₦200,000, Cash purchases ₦150,000, Accounts Payable ₦100,000, and Common Stock ₦50,000. What is the net income for the year?

Answer Options

A. ₦50,000
B. ₦75,000
Correct Answer C. ₦100,000
D. ₦125,000
Correct Answer
C
Correct Option:
₦100,000

About This Question

This is Post Utme Crawford University 2024 Accounting Question 28. It is one of the objective questions from the 2024 Post Utme Crawford University Accounting examination.

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