Post Utme Lasu 2024 Accounting Question 37

Practice objective / multiple choice question 37 from the 2024 Post Utme Lasu Accounting examination.

Post Utme Lasu 2024 Accounting Objective / Multiple Choice
Question 37 POST_UTME_LASU • 2024 • ACCOUNTING • objective

A company uses the following accounts: Purchases, Sales, Cost of Goods Sold, and Gross Profit. The company's trial balance shows the following balances: Purchases = ₦120,000, Sales = ₦150,000, Cost of Goods Sold = ₦80,000, and Gross Profit = ₦30,000. What is the correct order of the accounts in the ledger?

Answer Options

Correct Answer A. Purchases, Sales, Cost of Goods Sold, Gross Profit
B. Purchases, Cost of Goods Sold, Sales, Gross Profit
C. Sales, Purchases, Cost of Goods Sold, Gross Profit
D. Cost of Goods Sold, Purchases, Sales, Gross Profit
Correct Answer
A
Correct Option:
Purchases, Sales, Cost of Goods Sold, Gross Profit

About This Question

This is Post Utme Lasu 2024 Accounting Question 37. It is one of the objective questions from the 2024 Post Utme Lasu Accounting examination.

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