Post Utme Rhema University 2024 Accounting Question 15

Practice objective / multiple choice question 15 from the 2024 Post Utme Rhema University Accounting examination.

Post Utme Rhema University 2024 Accounting Objective / Multiple Choice
Question 15 POST_UTME_RHEMA_UNIVERSITY • 2024 • ACCOUNTING • objective

A company has the following trial balance: Accounts Receivable ₦50,000, Sales Revenue ₦200,000, Cost of Goods Sold ₦150,000, and Common Stock ₦100,000. Prepare the company's income statement for the year.

Answer Options

Correct Answer A. Sales Revenue ₦200,000, Cost of Goods Sold ₦150,000, Gross Profit ₦50,000
B. Sales Revenue ₦200,000, Cost of Goods Sold ₦150,000, Gross Profit ₦50,000
C. Sales Revenue ₦200,000, Cost of Goods Sold ₦150,000, Gross Profit ₦50,000
D. Sales Revenue ₦200,000, Cost of Goods Sold ₦150,000, Gross Profit ₦50,000
Correct Answer
A
Correct Option:
Sales Revenue ₦200,000, Cost of Goods Sold ₦150,000, Gross Profit ₦50,000

About This Question

This is Post Utme Rhema University 2024 Accounting Question 15. It is one of the objective questions from the 2024 Post Utme Rhema University Accounting examination.

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