Post Utme Achievers University 2024 Accounting Question 14

Practice objective / multiple choice question 14 from the 2024 Post Utme Achievers University Accounting examination.

Post Utme Achievers University 2024 Accounting Objective / Multiple Choice
Question 14 POST_UTME_ACHIEVERS_UNIVERSITY • 2024 • ACCOUNTING • objective

A company's profit and loss account for the year ended 31st December 2023 is as follows: Sales: ₦1,500,000; Purchases: ₦1,200,000; Returns Outwards: ₦50,000; Returns Inwards: ₦20,000. Calculate the net profit for the year.

Answer Options

A. ₦250,000
Correct Answer B. ₦300,000
C. ₦350,000
D. ₦400,000
Correct Answer
B
Correct Option:
₦300,000

About This Question

This is Post Utme Achievers University 2024 Accounting Question 14. It is one of the objective questions from the 2024 Post Utme Achievers University Accounting examination.

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