Post Utme Veritas University 2025 Accounting Question 14

Practice objective / multiple choice question 14 from the 2025 Post Utme Veritas University Accounting examination.

Post Utme Veritas University 2025 Accounting Objective / Multiple Choice
Question 14 POST_UTME_VERITAS_UNIVERSITY • 2025 • ACCOUNTING • objective

A company has the following ledger balances: | Account | Debit | Credit | | --- | --- | --- | | Cash | ₦50,000 | | | Accounts Payable | | ₦30,000 | | Sales Revenue | ₦100,000 | | | Cost of Goods Sold | | ₦80,000 | What is the net income for the period?

Answer Options

A. ₦20,000
Correct Answer B. ₦30,000
C. ₦40,000
D. ₦50,000
Correct Answer
B
Correct Option:
₦30,000

About This Question

This is Post Utme Veritas University 2025 Accounting Question 14. It is one of the objective questions from the 2025 Post Utme Veritas University Accounting examination.

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