Post Utme Lasu 2021 Accounting Question 20

Practice objective / multiple choice question 20 from the 2021 Post Utme Lasu Accounting examination.

Post Utme Lasu 2021 Accounting Objective / Multiple Choice
Question 20 POST_UTME_LASU • 2021 • ACCOUNTING • objective

A company's trial balance shows the following balances: Accounts Payable ₦ 50,000, Sales ₦ 200,000, and Cost of Goods Sold ₦ 150,000. What is the amount of net profit?

Answer Options

A. ₦ 50,000
B. ₦ 60,000
Correct Answer C. ₦ 70,000
D. ₦ 80,000
Correct Answer
C
Correct Option:
₦ 70,000

About This Question

This is Post Utme Lasu 2021 Accounting Question 20. It is one of the objective questions from the 2021 Post Utme Lasu Accounting examination.

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