Post Utme Esut 2022 Accounting Question 1
Practice objective / multiple choice question 1 from the 2022 Post Utme Esut Accounting examination.
A company uses the single-entry system of accounting. The following transactions were recorded during the year: (i) Purchased office equipment for ₦120,000. (ii) Sold goods for ₦150,000. (iii) Purchased raw materials for ₦80,000. (iv) Paid salaries of ₦30,000. (v) Collected cash from customers for ₦200,000. Determine the net profit or loss for the year.
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About This Question
This is Post Utme Esut 2022 Accounting Question 1. It is one of the objective questions from the 2022 Post Utme Esut Accounting examination.
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