Post Utme Elizade University 2020 Accounting Question 39

Practice objective / multiple choice question 39 from the 2020 Post Utme Elizade University Accounting examination.

Post Utme Elizade University 2020 Accounting Objective / Multiple Choice
Question 39 POST_UTME_ELIZADE_UNIVERSITY • 2020 • ACCOUNTING • objective

A company's income statement for the year ended December 31, 2022, showed the following: Sales £100,000, Cost of Goods Sold £60,000, Gross Profit £40,000, Operating Expenses £20,000, Net Income £10,000. Prepare the income statement.

Answer Options

Correct Answer A. Sales £100,000, Cost of Goods Sold £60,000, Gross Profit £40,000, Operating Expenses £20,000, Net Income £10,000
B. Sales £100,000, Cost of Goods Sold £60,000, Gross Profit £40,000, Operating Expenses £20,000
C. Sales £100,000, Cost of Goods Sold £60,000, Gross Profit £40,000
D. Sales £100,000, Cost of Goods Sold £60,000
Correct Answer
A
Correct Option:
Sales £100,000, Cost of Goods Sold £60,000, Gross Profit £40,000, Operating Expenses £20,000, Net Income £10,000

About This Question

This is Post Utme Elizade University 2020 Accounting Question 39. It is one of the objective questions from the 2020 Post Utme Elizade University Accounting examination.

View More Post Utme Elizade University 2020 Accounting Questions More Post Utme Elizade University Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support