Post Utme Mountain Top University 2023 Accounting Question 42

Practice objective / multiple choice question 42 from the 2023 Post Utme Mountain Top University Accounting examination.

Post Utme Mountain Top University 2023 Accounting Objective / Multiple Choice
Question 42 POST_UTME_MOUNTAIN_TOP_UNIVERSITY • 2023 • ACCOUNTING • objective

A company's trading account for the year ended 31st December 2022 is as follows: Sales: ₦1,800,000; Purchases: ₦1,400,000; Returns outwards: ₦25,000; Returns inwards: ₦15,000. Calculate the gross profit for the year.

Answer Options

A. ₦350,000
B. ₦400,000
Correct Answer C. ₦450,000
D. ₦500,000
Correct Answer
C
Correct Option:
₦450,000

About This Question

This is Post Utme Mountain Top University 2023 Accounting Question 42. It is one of the objective questions from the 2023 Post Utme Mountain Top University Accounting examination.

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