Post Utme Unn 2018 Accounting Question 15

Practice objective / multiple choice question 15 from the 2018 Post Utme Unn Accounting examination.

Post Utme Unn 2018 Accounting Objective / Multiple Choice

Question 15 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 15. It is one of the objective questions from the 2018 Post Utme Unn Accounting examination.

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