Post Utme Lead City University 2017 Accounting Question 10

Practice objective / multiple choice question 10 from the 2017 Post Utme Lead City University Accounting examination.

Post Utme Lead City University 2017 Accounting Objective / Multiple Choice
Question 10 POST_UTME_LEAD_CITY_UNIVERSITY • 2017 • ACCOUNTING • objective

A company's balance sheet as at 31st December, 2022 is as follows: Cash ₦50,000; Bank ₦20,000; Accounts Payable ₦30,000; Sales Revenue ₦80,000; Cost of Goods Sold ₦40,000. Prepare a trading account as at 31st December, 2022.

Answer Options

A. ₦40,000
Correct Answer B. ₦50,000
C. ₦60,000
D. ₦70,000
Correct Answer
B
Correct Option:
₦50,000

About This Question

This is Post Utme Lead City University 2017 Accounting Question 10. It is one of the objective questions from the 2017 Post Utme Lead City University 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