Post Utme Abu 2019 Accounting Question 27
Practice objective / multiple choice question 27 from the 2019 Post Utme Abu Accounting examination.
A company uses the single entry system to record its transactions. The following transactions were recorded in the year: Debit: ₦10,000 for rent, ₦5,000 for electricity, ₦3,000 for water, ₦2,000 for office supplies, and ₦1,000 for postage. Credit: ₦15,000 for sales, ₦8,000 for purchases, ₦4,000 for wages, and ₦2,000 for dividends. Determine the net profit or loss for the year.
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About This Question
This is Post Utme Abu 2019 Accounting Question 27. It is one of the objective questions from the 2019 Post Utme Abu Accounting examination.
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