Post Utme Pan Atlantic University 2023 Accounting Question 23

Practice objective / multiple choice question 23 from the 2023 Post Utme Pan Atlantic University Accounting examination.

Post Utme Pan Atlantic University 2023 Accounting Objective / Multiple Choice
Question 23 POST_UTME_PAN-ATLANTIC_UNIVERSITY • 2023 • ACCOUNTING • objective

A company uses the accrual basis of accounting. The following transactions occurred during the year: Sales revenue = ₦250,000; Cost of goods sold = ₦180,000; Operating expenses = ₦30,000. Determine the net income.

Answer Options

A. ₦40,000
B. ₦50,000
Correct Answer C. ₦60,000
D. ₦70,000
Correct Answer
C
Correct Option:
₦60,000

About This Question

This is Post Utme Pan Atlantic University 2023 Accounting Question 23. It is one of the objective questions from the 2023 Post Utme Pan Atlantic University Accounting examination.

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