Post Utme Futa 2021 Accounting Question 37

Practice objective / multiple choice question 37 from the 2021 Post Utme Futa Accounting examination.

Post Utme Futa 2021 Accounting Objective / Multiple Choice
Question 37 POST_UTME_FUTA • 2021 • ACCOUNTING • objective

A company has the following transactions for the year: Purchases: ₦100,000 (Raw materials), ₦50,000 (Work-in-progress), ₦20,000 (Finished goods) Sales: ₦150,000 (Goods sold), ₦40,000 (Services rendered) Prepare the profit and loss account.

Answer Options

A. ₦200,000
Correct Answer B. ₦250,000
C. ₦300,000
D. ₦350,000
Correct Answer
B
Correct Option:
₦250,000

About This Question

This is Post Utme Futa 2021 Accounting Question 37. It is one of the objective questions from the 2021 Post Utme Futa Accounting examination.

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