Post Utme Futo 2021 Accounting Question 10

Practice objective / multiple choice question 10 from the 2021 Post Utme Futo Accounting examination.

Post Utme Futo 2021 Accounting Objective / Multiple Choice
Question 10 POST_UTME_FUTO • 2021 • ACCOUNTING • objective

A company's trial balance showed the following balances: Accounts Payable ₦30,000, Sales Revenue ₦150,000, Cost of Goods Sold ₦100,000, and Common Stock ₦80,000. Prepare a trading and profit and loss account for the company.

Answer Options

A. ₦50,000
B. ₦60,000
Correct Answer C. ₦70,000
D. ₦80,000
Correct Answer
C
Correct Option:
₦70,000

About This Question

This is Post Utme Futo 2021 Accounting Question 10. It is one of the objective questions from the 2021 Post Utme Futo Accounting examination.

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