Post Utme Futa 2020 Accounting Question 26

Practice objective / multiple choice question 26 from the 2020 Post Utme Futa Accounting examination.

Post Utme Futa 2020 Accounting Objective / Multiple Choice
Question 26 POST_UTME_FUTA • 2020 • ACCOUNTING • objective

A company uses the accruals basis of accounting. If the company's sales revenue for the year is ₦1,500,000 and the cost of goods sold is ₦1,200,000, what is the gross profit?

Answer Options

A. ₦300,000
B. ₦400,000
Correct Answer C. ₦500,000
D. ₦600,000
Correct Answer
C
Correct Option:
₦500,000

About This Question

This is Post Utme Futa 2020 Accounting Question 26. It is one of the objective questions from the 2020 Post Utme Futa Accounting examination.

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