Post Utme Rhema University 2020 Accounting Question 39

Practice objective / multiple choice question 39 from the 2020 Post Utme Rhema University Accounting examination.

Post Utme Rhema University 2020 Accounting Objective / Multiple Choice
Question 39 POST_UTME_RHEMA_UNIVERSITY • 2020 • ACCOUNTING • objective

A company uses the single entry system to record its transactions. The company's journal shows the following entries: Debit Accounts Payable ₦120,000 and Credit Sales Revenue ₦500,000. What is the company's net income?

Answer Options

A. ₦200,000
B. ₦150,000
Correct Answer C. ₦250,000
D. ₦100,000
Correct Answer
C
Correct Option:
₦250,000

About This Question

This is Post Utme Rhema University 2020 Accounting Question 39. It is one of the objective questions from the 2020 Post Utme Rhema University Accounting examination.

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