Post Utme Christopher University 2021 Accounting Question 23

Practice objective / multiple choice question 23 from the 2021 Post Utme Christopher University Accounting examination.

Post Utme Christopher University 2021 Accounting Objective / Multiple Choice
Question 23 POST_UTME_CHRISTOPHER_UNIVERSITY • 2021 • ACCOUNTING • objective

A company uses a self-balancing ledger to record its transactions. The ledger shows the following accounts: Sales ₦100,000, Purchases ₦80,000, and Capital ₦120,000. What is the correct balance of the company's profit and loss account?

Answer Options

A. ₦20,000
B. ₦30,000
Correct Answer C. ₦40,000
D. ₦50,000
Correct Answer
C
Correct Option:
₦40,000

About This Question

This is Post Utme Christopher University 2021 Accounting Question 23. It is one of the objective questions from the 2021 Post Utme Christopher University Accounting examination.

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