Post Utme Lead City University 2017 Accounting Question 18

Practice objective / multiple choice question 18 from the 2017 Post Utme Lead City University Accounting examination.

Post Utme Lead City University 2017 Accounting Objective / Multiple Choice
Question 18 POST_UTME_LEAD_CITY_UNIVERSITY • 2017 • ACCOUNTING • objective

A company has the following trial balance: Debtors: ₦100,000 Stock: ₦50,000 Bills Receivable: ₦20,000 Bills Payable: ₦10,000 Capital: ₦200,000 Drawings: ₦20,000 Sales: ₦150,000 Purchases: ₦80,000 Determine the net profit or loss for the year.

Answer Options

A. ₦30,000
Correct Answer B. ₦40,000
C. ₦50,000
D. ₦60,000
Correct Answer
B
Correct Option:
₦40,000

About This Question

This is Post Utme Lead City University 2017 Accounting Question 18. It is one of the objective questions from the 2017 Post Utme Lead City University Accounting examination.

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