Post Utme Greenfield University 2022 Accounting Question 1

Practice objective / multiple choice question 1 from the 2022 Post Utme Greenfield University Accounting examination.

Post Utme Greenfield University 2022 Accounting Objective / Multiple Choice
Question 1 POST_UTME_GREENFIELD_UNIVERSITY • 2022 • ACCOUNTING • objective

A company has the following incomplete records for the year ended 31st December 2022: Opening balance: ₦100,000 Closing balance: ₦150,000 Deposits: ₦50,000 Withdrawals: ₦20,000 Sales: ₦80,000 Cost of goods sold: ₦60,000 Using the single entry method, prepare the trading and profit and loss account for the year ended 31st December 2022.

Answer Options

A. ₦30,000
Correct Answer B. ₦40,000
C. ₦50,000
D. ₦60,000
Correct Answer
B
Correct Option:
₦40,000

About This Question

This is Post Utme Greenfield University 2022 Accounting Question 1. It is one of the objective questions from the 2022 Post Utme Greenfield University Accounting examination.

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