Post Utme Ims U 2018 Accounting Question 32

Practice objective / multiple choice question 32 from the 2018 Post Utme Ims U Accounting examination.

Post Utme Ims U 2018 Accounting Objective / Multiple Choice
Question 32 POST_UTME_IMS_U • 2018 • ACCOUNTING • objective

A company has the following transactions: Purchased goods for ₦40,000 on credit, sold goods for ₦60,000 on credit, and paid cash of ₦10,000 to a supplier. What is the net effect on the company's profit?

Answer Options

Correct Answer A. ₦20,000 increase
B. ₦10,000 decrease
C. ₦15,000 increase
D. ₦25,000 decrease
Correct Answer
A
Correct Option:
₦20,000 increase

About This Question

This is Post Utme Ims U 2018 Accounting Question 32. It is one of the objective questions from the 2018 Post Utme Ims U Accounting examination.

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