Post Utme Coal City University 2018 Accounting Question 14

Practice objective / multiple choice question 14 from the 2018 Post Utme Coal City University Accounting examination.

Post Utme Coal City University 2018 Accounting Objective / Multiple Choice
Question 14 POST_UTME_COAL_CITY_UNIVERSITY • 2018 • ACCOUNTING • objective

A company prepares its final accounts for the year. The trading account shows a profit of ₦50,000, the profit and loss account shows a profit of ₦20,000, and the balance sheet shows a net worth of ₦150,000. Prepare the statement of profit or loss and other comprehensive income.

Answer Options

A. Statement of Profit or Loss and Other Comprehensive Income: ₦50,000 + ₦20,000 = ₦70,000
B. Statement of Profit or Loss and Other Comprehensive Income: ₦50,000 - ₦20,000 = ₦30,000
Correct Answer C. Statement of Profit or Loss and Other Comprehensive Income: ₦50,000 + ₦20,000 = ₦70,000
D. Statement of Profit or Loss and Other Comprehensive Income: ₦50,000 - ₦20,000 = ₦30,000
Correct Answer
C
Correct Option:
Statement of Profit or Loss and Other Comprehensive Income: ₦50,000 + ₦20,000 = ₦70,000

About This Question

This is Post Utme Coal City University 2018 Accounting Question 14. It is one of the objective questions from the 2018 Post Utme Coal City University Accounting examination.

View More Post Utme Coal City University 2018 Accounting Questions More Post Utme Coal City University Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support