Post Utme Futa 2022 Accounting Question 3

Practice objective / multiple choice question 3 from the 2022 Post Utme Futa Accounting examination.

Post Utme Futa 2022 Accounting Objective / Multiple Choice
Question 3 POST_UTME_FUTA • 2022 • ACCOUNTING • objective

A company's trial balance shows the following accounts: Sales ₦1,000,000, Cost of Goods Sold ₦800,000, and Net Income ₦200,000. What is the correct amount of Gross Profit?

Answer Options

A. ₦100,000
Correct Answer B. ₦200,000
C. ₦300,000
D. ₦400,000
Correct Answer
B
Correct Option:
₦200,000

About This Question

This is Post Utme Futa 2022 Accounting Question 3. It is one of the objective questions from the 2022 Post Utme Futa Accounting examination.

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