Post Utme Uniosun 2017 Accounting Question 22

Practice objective / multiple choice question 22 from the 2017 Post Utme Uniosun Accounting examination.

Post Utme Uniosun 2017 Accounting Objective / Multiple Choice
Question 22 POST_UTME_UNIOSUN • 2017 • ACCOUNTING • objective

A company's trial balance showed the following balances: Accounts Payable ₦50,000, Sales Revenue ₦150,000, Cost of Goods Sold ₦80,000. Prepare the company's income statement.

Answer Options

Correct Answer A. Sales Revenue ₦150,000, Cost of Goods Sold ₦80,000, Net Income ₦70,000
B. Sales Revenue ₦150,000, Cost of Goods Sold ₦80,000, Net Income ₦30,000
C. Sales Revenue ₦150,000, Cost of Goods Sold ₦80,000, Net Income ₦50,000
D. Sales Revenue ₦150,000, Cost of Goods Sold ₦80,000, Net Income ₦20,000
Correct Answer
A
Correct Option:
Sales Revenue ₦150,000, Cost of Goods Sold ₦80,000, Net Income ₦70,000

About This Question

This is Post Utme Uniosun 2017 Accounting Question 22. It is one of the objective questions from the 2017 Post Utme Uniosun Accounting examination.

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