Post Utme Osustech 2025 Accounting Question 35

Practice objective / multiple choice question 35 from the 2025 Post Utme Osustech Accounting examination.

Post Utme Osustech 2025 Accounting Objective / Multiple Choice
Question 35 POST_UTME_OSUSTECH • 2025 • ACCOUNTING • objective

A company's balance sheet shows the following balances: Cash ₦50,000, Accounts Payable ₦20,000, Common Stock ₦100,000, Dividends ₦10,000, Retained Earnings ₦30,000. Prepare the company's income statement.

Answer Options

Correct Answer A. Revenue ₦120,000, Expenses ₦90,000, Net Income ₦30,000
B. Revenue ₦100,000, Expenses ₦80,000, Net Income ₦20,000
C. Revenue ₦110,000, Expenses ₦80,000, Net Income ₦30,000
D. Revenue ₦130,000, Expenses ₦90,000, Net Income ₦40,000
Correct Answer
A
Correct Option:
Revenue ₦120,000, Expenses ₦90,000, Net Income ₦30,000

About This Question

This is Post Utme Osustech 2025 Accounting Question 35. It is one of the objective questions from the 2025 Post Utme Osustech Accounting examination.

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