Post Utme Al Hikmah University 2022 Accounting Question 35

Practice objective / multiple choice question 35 from the 2022 Post Utme Al Hikmah University Accounting examination.

Post Utme Al Hikmah University 2022 Accounting Objective / Multiple Choice
Question 35 POST_UTME_AL-HIKMAH_UNIVERSITY • 2022 • ACCOUNTING • objective

A firm's profit for the year ended 31st December 2022 was ₠ 1,200,000. If the firm's capital was ₠ 800,000 and the drawings were ₠ 120,000, what was the firm's net profit?

Answer Options

A. ₠ 1,200,000
Correct Answer B. ₠ 1,080,000
C. ₠ 1,440,000
D. ₠ 1,560,000
Correct Answer
B
Correct Option:
₠ 1,080,000

About This Question

This is Post Utme Al Hikmah University 2022 Accounting Question 35. It is one of the objective questions from the 2022 Post Utme Al Hikmah University Accounting examination.

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