Post Utme Igbinedion University 2022 Accounting Question 25

Practice objective / multiple choice question 25 from the 2022 Post Utme Igbinedion University Accounting examination.

Post Utme Igbinedion University 2022 Accounting Objective / Multiple Choice
Question 25 POST_UTME_IGBINEDION_UNIVERSITY • 2022 • ACCOUNTING • objective

A company's income statement for the year ended December 31, 2022, is as follows: Revenues ₦ 200,000 Sales Expenses ₦ 150,000 Cost of Goods Sold ₦ 30,000 Salaries ₦ 20,000 Rent What is the net income for the year?

Answer Options

A. ₦ 20,000
B. ₦ 30,000
Correct Answer C. ₦ 40,000
D. ₦ 50,000
Correct Answer
C
Correct Option:
₦ 40,000

About This Question

This is Post Utme Igbinedion University 2022 Accounting Question 25. It is one of the objective questions from the 2022 Post Utme Igbinedion University Accounting examination.

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