Post Utme Pan Atlantic University 2023 Commerce Question 39

Practice objective / multiple choice question 39 from the 2023 Post Utme Pan Atlantic University Commerce examination.

Post Utme Pan Atlantic University 2023 Commerce Objective / Multiple Choice
Question 39 POST_UTME_PAN-ATLANTIC_UNIVERSITY • 2023 • COMMERCE • objective

A company has the following income statement: Revenue = ₦100m, Cost of Goods Sold = ₦50m, Gross Profit = ₦50m. If the company's tax rate is 20%, what will be the net income?

Answer Options

A. ₦40m
Correct Answer B. ₦40.5m
C. ₦41m
D. ₦41.5m
Correct Answer
B
Correct Option:
₦40.5m

About This Question

This is Post Utme Pan Atlantic University 2023 Commerce Question 39. It is one of the objective questions from the 2023 Post Utme Pan Atlantic University Commerce examination.

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