Post Utme Igbinedion University 2024 Accounting Question 29

Practice objective / multiple choice question 29 from the 2024 Post Utme Igbinedion University Accounting examination.

Post Utme Igbinedion University 2024 Accounting Objective / Multiple Choice
Question 29 POST_UTME_IGBINEDION_UNIVERSITY • 2024 • ACCOUNTING • objective

A company's trading account for the year ended December 31, 2023, shows the following: Sales: ₦1,500,000 Returns from customers: ₦50,000 Purchases: ₦1,200,000 Returns to suppliers: ₦20,000 What is the gross profit for the year?

Answer Options

A. ₦200,000
B. ₦250,000
Correct Answer C. ₦300,000
D. ₦350,000
Correct Answer
C
Correct Option:
₦300,000

About This Question

This is Post Utme Igbinedion University 2024 Accounting Question 29. It is one of the objective questions from the 2024 Post Utme Igbinedion University Accounting examination.

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support