Post Utme Summit University 2017 Accounting Question 10

Practice objective / multiple choice question 10 from the 2017 Post Utme Summit University Accounting examination.

Post Utme Summit University 2017 Accounting Objective / Multiple Choice
Question 10 POST_UTME_SUMMIT_UNIVERSITY • 2017 • ACCOUNTING • objective

A company's single-entry accounting system shows the following transactions: Cash ₦10,000, Accounts Payable ₦20,000, Sales Revenue ₦30,000, and Cost of Goods Sold ₦15,000. What is the company's net income?

Answer Options

A. ₦5,000
Correct Answer B. ₦10,000
C. ₦15,000
D. ₦20,000
Correct Answer
B
Correct Option:
₦10,000

About This Question

This is Post Utme Summit University 2017 Accounting Question 10. It is one of the objective questions from the 2017 Post Utme Summit 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