Post Utme Uniben 2020 Accounting Question 8

Practice objective / multiple choice question 8 from the 2020 Post Utme Uniben Accounting examination.

Post Utme Uniben 2020 Accounting Objective / Multiple Choice
Question 8 POST_UTME_UNIBEN • 2020 • ACCOUNTING • objective

A company's trial balance as of December 31, 2020, is as follows: Accounts Receivable 50,000, Accounts Payable 30,000, Common Stock 100,000, Retained Earnings 50,000, and Dividends 20,000. What is the total amount of net income for the year?

Answer Options

A. ₦30,000
B. ₦40,000
Correct Answer C. ₦50,000
D. ₦60,000
Correct Answer
C
Correct Option:
₦50,000

About This Question

This is Post Utme Uniben 2020 Accounting Question 8. It is one of the objective questions from the 2020 Post Utme Uniben Accounting examination.

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