Post Utme Bells University 2018 Accounting Question 12

Practice objective / multiple choice question 12 from the 2018 Post Utme Bells University Accounting examination.

Post Utme Bells University 2018 Accounting Objective / Multiple Choice
Question 12 POST_UTME_BELLS_UNIVERSITY • 2018 • ACCOUNTING • objective

A manufacturing company has the following data for the year ended December 31, 2018: Cost of Goods Sold ₦1,500,000; Gross Profit ₦800,000; Operating Expenses ₦400,000; Net Profit ₦300,000. Prepare the Trading and Profit and Loss Account for the year.

Answer Options

Correct Answer A. Trading Account: ₦1,500,000; Profit and Loss Account: ₦1,200,000
B. Trading Account: ₦1,200,000; Profit and Loss Account: ₦1,500,000
C. Trading Account: ₦1,500,000; Profit and Loss Account: ₦1,000,000
D. Trading Account: ₦1,200,000; Profit and Loss Account: ₦1,000,000
Correct Answer
A
Correct Option:
Trading Account: ₦1,500,000; Profit and Loss Account: ₦1,200,000

About This Question

This is Post Utme Bells University 2018 Accounting Question 12. It is one of the objective questions from the 2018 Post Utme Bells University Accounting examination.

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