Post Utme Aaua 2020 Accounting Question 21

Practice objective / multiple choice question 21 from the 2020 Post Utme Aaua Accounting examination.

Post Utme Aaua 2020 Accounting Objective / Multiple Choice
Question 21 POST_UTME_AAUA • 2020 • ACCOUNTING • objective

A company's trading account for the year ended 31st December 2020 shows a profit of ₦1,500,000. The balance sheet as at 31st December 2020 shows a current liability of ₦800,000. What is the amount of the company's net profit for the year?

Answer Options

A. ₦1,700,000
B. ₦1,600,000
C. ₦1,500,000
Correct Answer D. ₦1,400,000
Correct Answer
D
Correct Option:
₦1,400,000

About This Question

This is Post Utme Aaua 2020 Accounting Question 21. It is one of the objective questions from the 2020 Post Utme Aaua Accounting examination.

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