Post Utme Veritas University 2017 Accounting Question 2
Practice objective / multiple choice question 2 from the 2017 Post Utme Veritas University Accounting examination.
A company prepares a trial balance as at 31st December, 2017. The trial balance shows the following balances: Accounts Payable ₦50,000, Accounts Receivable ₦30,000, Common Stock ₦100,000, Dividends ₦20,000, Equipment ₦80,000, Retained Earnings ₦40,000, Sales Revenue ₦200,000, Salaries Expense ₦30,000, and Utilities Expense ₦20,000. What is the net income for the year?
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About This Question
This is Post Utme Veritas University 2017 Accounting Question 2. It is one of the objective questions from the 2017 Post Utme Veritas University Accounting examination.
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