Post Utme Ims U 2021 Accounting Question 24

Practice objective / multiple choice question 24 from the 2021 Post Utme Ims U Accounting examination.

Post Utme Ims U 2021 Accounting Objective / Multiple Choice
Question 24 POST_UTME_IMS_U • 2021 • ACCOUNTING • objective

A company prepares its financial statements for the year ended December 31, 2021. The company's trading account shows a profit of ₦500,000, and the profit and loss account shows a net profit of ₦750,000. What is the company's net profit for the year?

Answer Options

A. ₦1,250,000
B. ₦1,300,000
Correct Answer C. ₦1,350,000
D. ₦1,400,000
Correct Answer
C
Correct Option:
₦1,350,000

About This Question

This is Post Utme Ims U 2021 Accounting Question 24. It is one of the objective questions from the 2021 Post Utme Ims U Accounting examination.

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