Post Utme Eksu 2022 Accounting Question 34

Practice objective / multiple choice question 34 from the 2022 Post Utme Eksu Accounting examination.

Post Utme Eksu 2022 Accounting Objective / Multiple Choice
Question 34 POST_UTME_EKSU • 2022 • ACCOUNTING • objective

A company uses the double-entry system of accounting. The company's journal entries for the month of January are as follows: Debit Cash (₦100,000) and Credit Accounts Payable (₦50,000). What is the company's net income for the month?

Answer Options

A. ₦50,000
B. ₦60,000
Correct Answer C. ₦70,000
D. ₦80,000
Correct Answer
C
Correct Option:
₦70,000

About This Question

This is Post Utme Eksu 2022 Accounting Question 34. It is one of the objective questions from the 2022 Post Utme Eksu Accounting examination.

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