Post Utme Igbinedion University 2019 Accounting Question 23

Practice objective / multiple choice question 23 from the 2019 Post Utme Igbinedion University Accounting examination.

Post Utme Igbinedion University 2019 Accounting Objective / Multiple Choice
Question 23 POST_UTME_IGBINEDION_UNIVERSITY • 2019 • ACCOUNTING • objective

A company has the following trial balance: Debitors ₦50,000, Creditors ₦30,000, Capital ₦100,000, Profit and Loss Account ₦20,000. What is the correct balance of the Profit and Loss Account?

Answer Options

A. ₦20,000
B. ₦30,000
C. ₦40,000
Correct Answer D. ₦50,000
Correct Answer
D
Correct Option:
₦50,000

About This Question

This is Post Utme Igbinedion University 2019 Accounting Question 23. It is one of the objective questions from the 2019 Post Utme Igbinedion University Accounting examination.

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