Post Utme Caleb University 2021 Accounting Question 17

Practice objective / multiple choice question 17 from the 2021 Post Utme Caleb University Accounting examination.

Post Utme Caleb University 2021 Accounting Objective / Multiple Choice
Question 17 POST_UTME_CALEB_UNIVERSITY • 2021 • ACCOUNTING • objective

A company's trading account for the year ended 31st December 2020 is as follows: Debit: Sundry expenses: ₦50,000 Depreciation: ₦20,000 Credit: Sales: ₦500,000 Cost of goods sold: ₦300,000 Determine the net profit for the year.

Answer Options

A. ₦150,000
B. ₦180,000
Correct Answer C. ₦200,000
D. ₦220,000
Correct Answer
C
Correct Option:
₦200,000

About This Question

This is Post Utme Caleb University 2021 Accounting Question 17. It is one of the objective questions from the 2021 Post Utme Caleb University Accounting examination.

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