Post Utme Lautech 2018 Accounting Question 23

Practice objective / multiple choice question 23 from the 2018 Post Utme Lautech Accounting examination.

Post Utme Lautech 2018 Accounting Objective / Multiple Choice
Question 23 POST_UTME_LAUTECH • 2018 • ACCOUNTING • objective

A company's trading account for the year ended 31st December 20X7 is as follows: Sales: ₦500,000 Returns outwards: ₦20,000 Returns inwards: ₦10,000 Cost of goods sold: ₦300,000 What is the gross profit for the year?

Answer Options

A. ₦150,000
B. ₦180,000
Correct Answer C. ₦200,000
D. ₦220,000
Correct Answer
C
Correct Option:
₦200,000

About This Question

This is Post Utme Lautech 2018 Accounting Question 23. It is one of the objective questions from the 2018 Post Utme Lautech Accounting examination.

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