Post Utme Coal City University 2017 Accounting Question 20

Practice objective / multiple choice question 20 from the 2017 Post Utme Coal City University Accounting examination.

Post Utme Coal City University 2017 Accounting Objective / Multiple Choice
Question 20 POST_UTME_COAL_CITY_UNIVERSITY • 2017 • ACCOUNTING • objective

A company's self-balancing ledger for the year ended 31st December 2022 is as follows: Debit: Purchases: ₦1,000,000 Returns inwards: ₦20,000 Credit: Sales: ₦1,500,000 Returns outwards: ₦30,000 What is the net profit for the year?

Answer Options

A. ₦500,000
Correct Answer B. ₦520,000
C. ₦540,000
D. ₦560,000
Correct Answer
B
Correct Option:
₦520,000

About This Question

This is Post Utme Coal City University 2017 Accounting Question 20. It is one of the objective questions from the 2017 Post Utme Coal City University Accounting examination.

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