Post Utme Al Hikmah University 2022 Accounting Question 25

Practice objective / multiple choice question 25 from the 2022 Post Utme Al Hikmah University Accounting examination.

Post Utme Al Hikmah University 2022 Accounting Objective / Multiple Choice
Question 25 POST_UTME_AL-HIKMAH_UNIVERSITY • 2022 • ACCOUNTING • objective

A company has the following transactions: Purchased a machine for ₦50,000; sold a machine for ₦30,000. What is the gain or loss on the sale of the machine?

Answer Options

A. Gain of ₦20,000
Correct Answer B. Loss of ₦20,000
C. Gain of ₦10,000
D. Loss of ₦10,000
Correct Answer
B
Correct Option:
Loss of ₦20,000

About This Question

This is Post Utme Al Hikmah University 2022 Accounting Question 25. It is one of the objective questions from the 2022 Post Utme Al Hikmah University Accounting examination.

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