Post Utme Aaua 2017 Accounting Question 3

Practice objective / multiple choice question 3 from the 2017 Post Utme Aaua Accounting examination.

Post Utme Aaua 2017 Accounting Objective / Multiple Choice
Question 3 POST_UTME_AAUA • 2017 • ACCOUNTING • objective

A trader purchased goods on credit for ₦80,000. He sold the goods for ₦120,000 and incurred expenses of ₦10,000. Prepare the trading account.

Answer Options

Correct Answer A. Trading Account: Debit: ₦80,000; Credit: ₦120,000; Expenses: ₦10,000
B. Trading Account: Debit: ₦80,000; Credit: ₦120,000; Expenses: ₦10,000
C. Trading Account: Debit: ₦80,000; Credit: ₦120,000; Expenses: ₦10,000
D. Trading Account: Debit: ₦80,000; Credit: ₦120,000; Expenses: ₦10,000
Correct Answer
A
Correct Option:
Trading Account: Debit: ₦80,000; Credit: ₦120,000; Expenses: ₦10,000

About This Question

This is Post Utme Aaua 2017 Accounting Question 3. It is one of the objective questions from the 2017 Post Utme Aaua Accounting examination.

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