Post Utme Futo 2018 Accounting Question 37

Practice objective / multiple choice question 37 from the 2018 Post Utme Futo Accounting examination.

Post Utme Futo 2018 Accounting Objective / Multiple Choice
Question 37 POST_UTME_FUTO • 2018 • ACCOUNTING • objective

A company's trading account shows a profit of ₦150,000. However, the profit and loss account shows a loss of ₦50,000. What is the correct explanation for the discrepancy?

Answer Options

A. The company has a non-trading income of ₦200,000 that has not been included in the trading account.
B. The company has a non-trading expense of ₦200,000 that has not been included in the trading account.
C. The company has a trading income of ₦200,000 that has not been included in the trading account.
Correct Answer D. The company has a trading expense of ₦200,000 that has not been included in the trading account.
Correct Answer
D
Correct Option:
The company has a trading expense of ₦200,000 that has not been included in the trading account.

About This Question

This is Post Utme Futo 2018 Accounting Question 37. It is one of the objective questions from the 2018 Post Utme Futo Accounting examination.

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