Post Utme Lead City University 2024 Accounting Question 24

Practice objective / multiple choice question 24 from the 2024 Post Utme Lead City University Accounting examination.

Post Utme Lead City University 2024 Accounting Objective / Multiple Choice

Question 24 POST_UTME_LEAD_CITY_UNIVERSITY • 2024 • ACCOUNTING • objective

A company has the following trial balance: Sales ₦1,500,000, Cost of Goods Sold ₦1,000,000, and Net Income ₦500,000. What is the correct balance of the retained earnings account?

Answer Options

Correct Answer A. ₦500,000

B. ₦1,000,000

C. ₦1,500,000

D. ₦2,000,000

Correct Answer

Correct Option:

₦500,000

About This Question

This is Post Utme Lead City University 2024 Accounting Question 24. It is one of the objective questions from the 2024 Post Utme Lead City University Accounting examination.

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