Post Utme Mountain Top University 2019 Commerce Question 9

Practice objective / multiple choice question 9 from the 2019 Post Utme Mountain Top University Commerce examination.

Post Utme Mountain Top University 2019 Commerce Objective / Multiple Choice
Question 9 POST_UTME_MOUNTAIN_TOP_UNIVERSITY • 2019 • COMMERCE • objective

A company has the following financial statements: income statement and balance sheet. Which of the following is a correct statement about the company's financial performance?

Answer Options

Correct Answer A. The company's net income is equal to the total revenue minus total expenses.
B. The company's net income is equal to the total equity plus total liabilities.
C. The company's net income is equal to the total assets minus total liabilities.
D. The company's net income is equal to the total revenue minus total liabilities.
Correct Answer
A
Correct Option:
The company's net income is equal to the total revenue minus total expenses.

About This Question

This is Post Utme Mountain Top University 2019 Commerce Question 9. It is one of the objective questions from the 2019 Post Utme Mountain Top University Commerce examination.

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