Post Utme Pan Atlantic University 2021 Accounting Question 4

Practice objective / multiple choice question 4 from the 2021 Post Utme Pan Atlantic University Accounting examination.

Post Utme Pan Atlantic University 2021 Accounting Objective / Multiple Choice
Question 4 POST_UTME_PAN-ATLANTIC_UNIVERSITY • 2021 • ACCOUNTING • objective

A company's financial statements for the year ended 31 December 2020 are as follows: Balance Sheet: Assets 100,000, Liabilities 50,000, Equity 50,000. Income Statement: Sales Revenue 200,000, Cost of Goods Sold 100,000, Gross Profit 100,000, Operating Expenses 50,000, Net Income 50,000. Prepare a statement of cash flows for the year ended 31 December 2020.

Answer Options

Correct Answer A. Operating Activities 50,000, Investing Activities 0, Financing Activities 0
B. Operating Activities 0, Investing Activities 50,000, Financing Activities 0
C. Operating Activities 0, Investing Activities 0, Financing Activities 50,000
D. Operating Activities 50,000, Investing Activities 50,000, Financing Activities 50,000
Correct Answer
A
Correct Option:
Operating Activities 50,000, Investing Activities 0, Financing Activities 0

About This Question

This is Post Utme Pan Atlantic University 2021 Accounting Question 4. It is one of the objective questions from the 2021 Post Utme Pan Atlantic University Accounting examination.

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