Post Utme Al Hikmah University 2020 Accounting Question 21

Practice objective / multiple choice question 21 from the 2020 Post Utme Al Hikmah University Accounting examination.

Post Utme Al Hikmah University 2020 Accounting Objective / Multiple Choice
Question 21 POST_UTME_AL-HIKMAH_UNIVERSITY • 2020 • ACCOUNTING • objective

A company's Balance Sheet as at 31st December 2020 showed the following balances: Capital £ 50,000, Profit £ 20,000, Drawings £ 10,000. Prepare the company's Profit and Loss Account for the year ended 31st December 2020.

Answer Options

A. ₦80,000
B. ₦90,000
Correct Answer C. ₦100,000
D. ₦110,000
Correct Answer
C
Correct Option:
₦100,000

About This Question

This is Post Utme Al Hikmah University 2020 Accounting Question 21. It is one of the objective questions from the 2020 Post Utme Al Hikmah 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