Post Utme Mountain Top University 2021 Accounting Question 26

Practice objective / multiple choice question 26 from the 2021 Post Utme Mountain Top University Accounting examination.

Post Utme Mountain Top University 2021 Accounting Objective / Multiple Choice
Question 26 POST_UTME_MOUNTAIN_TOP_UNIVERSITY • 2021 • ACCOUNTING • objective

A company's trading account for the year ended 31st December 2020 is as follows: Debit: Sales: ₦1,500,000 Purchases: ₦1,200,000 Wages: ₦300,000 Rent: ₦150,000 Credit: Returns Outwards: ₦50,000 Returns Inwards: ₦20,000 Determine the net profit for the year.

Answer Options

A. ₦250,000
Correct Answer B. ₦300,000
C. ₦350,000
D. ₦400,000
Correct Answer
B
Correct Option:
₦300,000

About This Question

This is Post Utme Mountain Top University 2021 Accounting Question 26. It is one of the objective questions from the 2021 Post Utme Mountain Top University Accounting examination.

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