Post Utme Al Hikmah University 2023 Accounting Question 9
Practice objective / multiple choice question 9 from the 2023 Post Utme Al Hikmah University Accounting examination.
A government agency prepares its financial statements for the year ended 31st December 2022. The agency's financial statements are as follows: | Account | Debit | Credit | | --- | --- | --- | | Cash | ₦50,000 | ₦0 | | Bank | ₦20,000 | ₦0 | | Accounts Payable | ₦0 | ₦30,000 | | Sales | ₦0 | ₦150,000 | | Cost of Goods Sold | ₦0 | ₦80,000 | | Profit | ₦0 | ₦0 | | Total | ₦70,000 | ₦220,000 | What is the amount of profit for the year ended 31st December 2022?
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About This Question
This is Post Utme Al Hikmah University 2023 Accounting Question 9. It is one of the objective questions from the 2023 Post Utme Al Hikmah University Accounting examination.
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