Post Utme Igbinedion University 2017 Accounting Question 3

Practice objective / multiple choice question 3 from the 2017 Post Utme Igbinedion University Accounting examination.

Post Utme Igbinedion University 2017 Accounting Objective / Multiple Choice
Question 3 POST_UTME_IGBINEDION_UNIVERSITY • 2017 • ACCOUNTING • objective

A company has the following trading account for the year ended 31st December, 2016: Sales: ₦150,000 Returns outwards: ₦10,000 Returns inwards: ₦5,000 Cost of goods sold: ₦80,000 What is the gross profit for the year?

Answer Options

A. ₦60,000
B. ₦70,000
Correct Answer C. ₦80,000
D. ₦90,000
Correct Answer
C
Correct Option:
₦80,000

About This Question

This is Post Utme Igbinedion University 2017 Accounting Question 3. It is one of the objective questions from the 2017 Post Utme Igbinedion University Accounting examination.

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