Post Utme Ims U 2025 Accounting Question 22

Practice objective / multiple choice question 22 from the 2025 Post Utme Ims U Accounting examination.

Post Utme Ims U 2025 Accounting Objective / Multiple Choice
Question 22 POST_UTME_IMS_U • 2025 • ACCOUNTING • objective

A company's trading account for the year ended 31st December 2024 is as follows: Debit: Sales: ₦1,500,000 Cost of Goods Sold: ₦900,000 Credit: Purchases: ₦1,200,000 Returns Outwards: ₦50,000 What is the net profit for the year?

Answer Options

Correct Answer A. ₦300,000
B. ₦400,000
C. ₦500,000
D. ₦600,000
Correct Answer
A
Correct Option:
₦300,000

About This Question

This is Post Utme Ims U 2025 Accounting Question 22. It is one of the objective questions from the 2025 Post Utme Ims U 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