Post Utme Greenfield University 2020 Accounting Question 40

Practice objective / multiple choice question 40 from the 2020 Post Utme Greenfield University Accounting examination.

Post Utme Greenfield University 2020 Accounting Objective / Multiple Choice
Question 40 POST_UTME_GREENFIELD_UNIVERSITY • 2020 • ACCOUNTING • objective

A company uses the accrual basis of accounting. The company's accounts payable at the beginning of the year were ₦50,000, and the accounts payable at the end of the year were ₦75,000. What is the company's net income for the year?

Answer Options

A. ₦25,000
Correct Answer B. ₦50,000
C. ₦75,000
D. ₦100,000
Correct Answer
B
Correct Option:
₦50,000

About This Question

This is Post Utme Greenfield University 2020 Accounting Question 40. It is one of the objective questions from the 2020 Post Utme Greenfield University Accounting examination.

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