Post Utme Mountain Top University 2025 Accounting Question 29

Practice objective / multiple choice question 29 from the 2025 Post Utme Mountain Top University Accounting examination.

Post Utme Mountain Top University 2025 Accounting Objective / Multiple Choice
Question 29 POST_UTME_MOUNTAIN_TOP_UNIVERSITY • 2025 • ACCOUNTING • objective

A company's Profit and Loss Account shows a profit of ₦20,000. What is the effect of this profit on the company's retained earnings?

Answer Options

Correct Answer A. Increases retained earnings by ₦20,000
B. Decreases retained earnings by ₦20,000
C. No effect on retained earnings
D. Unknown effect on retained earnings
Correct Answer
A
Correct Option:
Increases retained earnings by ₦20,000

About This Question

This is Post Utme Mountain Top University 2025 Accounting Question 29. It is one of the objective questions from the 2025 Post Utme Mountain Top University Accounting examination.

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