Post Utme Osustech 2024 Accounting Question 24

Practice objective / multiple choice question 24 from the 2024 Post Utme Osustech Accounting examination.

Post Utme Osustech 2024 Accounting Objective / Multiple Choice
Question 24 POST_UTME_OSUSTECH • 2024 • ACCOUNTING • objective

A company's profit and loss account for the year ended 31st December 2023 is as follows: Trading Profit: ₦500,000 \begin{itemize} \item Depreciation: ₦50,000 \item Interest on Loan: ₦20,000 \end{itemize} Calculate the company's net profit for the year.

Answer Options

A. ₦450,000
Correct Answer B. ₦500,000
C. ₦550,000
D. ₦600,000
Correct Answer
B
Correct Option:
₦500,000

About This Question

This is Post Utme Osustech 2024 Accounting Question 24. It is one of the objective questions from the 2024 Post Utme Osustech Accounting examination.

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