Post Utme Oau 2017 Accounting Question 11

Practice objective / multiple choice question 11 from the 2017 Post Utme Oau Accounting examination.

Post Utme Oau 2017 Accounting Objective / Multiple Choice
Question 11 POST_UTME_OAU • 2017 • ACCOUNTING • objective

A company's trading account for the year ended 31st December 2022 is as follows: Debit: Sales £ 120,000 Purchases £ 80,000 Credit: Cost of Goods Sold £ 90,000 What is the company's gross profit for the year?

Answer Options

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

About This Question

This is Post Utme Oau 2017 Accounting Question 11. It is one of the objective questions from the 2017 Post Utme Oau 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