Post Utme Redeemers University 2025 Accounting Question 35

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

Post Utme Redeemers University 2025 Accounting Objective / Multiple Choice
Question 35 POST_UTME_REDEEMERS_UNIVERSITY • 2025 • ACCOUNTING • objective

A company has a trial balance that includes the following accounts: Sales, Cost of Goods Sold, and Net Income. The trial balance shows a debit balance of ₦100,000 for Sales and a credit balance of ₦120,000 for Cost of Goods Sold. What is the net income of the company?

Answer Options

Correct Answer A. ₦20,000
B. ₦30,000
C. ₦40,000
D. ₦50,000
Correct Answer
A
Correct Option:
₦20,000

About This Question

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

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support