Post Utme Bowen University 2019 Accounting Question 35

Practice objective / multiple choice question 35 from the 2019 Post Utme Bowen University Accounting examination.

Post Utme Bowen University 2019 Accounting Objective / Multiple Choice
Question 35 POST_UTME_BOWEN_UNIVERSITY • 2019 • ACCOUNTING • objective

A company's trading account shows the following balances: | Particulars | Debit | Credit | | --- | --- | --- | | Purchases | 50,000 | | | Sales | | 100,000 | | Cost of Goods Sold | | 40,000 | What is the correct trading account formula?

Answer Options

Correct Answer A. Trading Profit = Sales - Cost of Goods Sold
B. Trading Loss = Cost of Goods Sold - Sales
C. Trading Profit = Sales - Purchases
D. Trading Loss = Purchases - Sales
Correct Answer
A
Correct Option:
Trading Profit = Sales - Cost of Goods Sold

About This Question

This is Post Utme Bowen University 2019 Accounting Question 35. It is one of the objective questions from the 2019 Post Utme Bowen University Accounting examination.

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