Post Utme Igbinedion University 2022 Accounting Question 8

Practice objective / multiple choice question 8 from the 2022 Post Utme Igbinedion University Accounting examination.

Post Utme Igbinedion University 2022 Accounting Objective / Multiple Choice
Question 8 POST_UTME_IGBINEDION_UNIVERSITY • 2022 • ACCOUNTING • objective

A company purchases a machine for ₦500,000 and sells it after one year for ₦600,000. Calculate the gain or loss on the sale of the machine.

Answer Options

A. ₦25,000
B. ₦50,000
Correct Answer C. ₦75,000
D. ₦100,000
Correct Answer
C
Correct Option:
₦75,000

About This Question

This is Post Utme Igbinedion University 2022 Accounting Question 8. It is one of the objective questions from the 2022 Post Utme Igbinedion University Accounting examination.

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