Post Utme Lautech 2018 Accounting Question 25
Practice objective / multiple choice question 25 from the 2018 Post Utme Lautech Accounting examination.
A company's profit and loss account for the year ended 31st December 20X7 is as follows: ₦ Turnover: ₦500,000 Returns outwards: ₦20,000 Returns inwards: ₦10,000 Cost of goods sold: ₦300,000 Gross profit: ₦210,000 Operating expenses: ₦50,000 Net profit: ₦160,000 What is the net profit for the year?
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About This Question
This is Post Utme Lautech 2018 Accounting Question 25. It is one of the objective questions from the 2018 Post Utme Lautech Accounting examination.
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