Post Utme Afe Babalola University 2025 Accounting Question 3

Practice objective / multiple choice question 3 from the 2025 Post Utme Afe Babalola University Accounting examination.

Post Utme Afe Babalola University 2025 Accounting Objective / Multiple Choice
Question 3 POST_UTME_AFE_BABALOLA_UNIVERSITY • 2025 • ACCOUNTING • objective

A company's trading account shows a profit of ₦50,000. However, the profit and loss account shows a loss of ₦20,000. What is the correct balance in the profit and loss account?

Answer Options

A. ₦30,000
Correct Answer B. ₦40,000
C. ₦50,000
D. ₦60,000
Correct Answer
B
Correct Option:
₦40,000

About This Question

This is Post Utme Afe Babalola University 2025 Accounting Question 3. It is one of the objective questions from the 2025 Post Utme Afe Babalola University Accounting examination.

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support