Post Utme Futo 2022 Accounting Question 38

Practice objective / multiple choice question 38 from the 2022 Post Utme Futo Accounting examination.

Post Utme Futo 2022 Accounting Objective / Multiple Choice
Question 38 POST_UTME_FUTO • 2022 • ACCOUNTING • objective

A sole proprietorship has the following transactions: Purchased goods for ₦10,000,000, sold goods for ₦12,000,000, and received cash of ₦8,000,000. What is the net income of the business?

Answer Options

A. ₦2,000,000
Correct Answer B. ₦3,000,000
C. ₦4,000,000
D. ₦5,000,000
Correct Answer
B
Correct Option:
₦3,000,000

About This Question

This is Post Utme Futo 2022 Accounting Question 38. It is one of the objective questions from the 2022 Post Utme Futo Accounting examination.

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