Post Utme Unn 2018 Accounting Question 12

Practice objective / multiple choice question 12 from the 2018 Post Utme Unn Accounting examination.

Post Utme Unn 2018 Accounting Objective / Multiple Choice

Question 12 POST_UTME_UNN • 2018 • ACCOUNTING • objective

A company's trial balance showed the following balances: Accounts Payable £ 10,000, Accounts Receivable £ 5,000, Sales £ 20,000, Cost of Goods Sold £ 15,000. Prepare the income statement.

Correct Answer A. Sales £ 20,000, Cost of Goods Sold £ 15,000, Net Income £ 5,000

B. Sales £ 20,000, Cost of Goods Sold £ 15,000, Net Income £ 5,000

C. Sales £ 20,000, Cost of Goods Sold £ 15,000, Net Income £ 5,000

D. Sales £ 20,000, Cost of Goods Sold £ 15,000, Net Income £ 5,000

Correct Answer

Correct Option:

Sales £ 20,000, Cost of Goods Sold £ 15,000, Net Income £ 5,000

This is Post Utme Unn 2018 Accounting Question 12. It is one of the objective questions from the 2018 Post Utme Unn Accounting examination.

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