Post Utme Mountain Top University 2023 Accounting Question 32

Practice objective / multiple choice question 32 from the 2023 Post Utme Mountain Top University Accounting examination.

Post Utme Mountain Top University 2023 Accounting Objective / Multiple Choice
Question 32 POST_UTME_MOUNTAIN_TOP_UNIVERSITY • 2023 • ACCOUNTING • objective

A company's balance sheet shows the following balances: Cash ₦100,000, Accounts Payable ₦200,000, Common Stock ₦100,000, and Retained Earnings ₦50,000. Prepare the company's income statement.

Answer Options

A. ₦50,000 in Net Income
Correct Answer B. ₦100,000 in Net Income
C. ₦150,000 in Net Income
D. ₦200,000 in Net Income
Correct Answer
B
Correct Option:
₦100,000 in Net Income

About This Question

This is Post Utme Mountain Top University 2023 Accounting Question 32. It is one of the objective questions from the 2023 Post Utme Mountain Top University Accounting examination.

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