Post Utme Pan Atlantic University 2024 Accounting Question 6

Practice objective / multiple choice question 6 from the 2024 Post Utme Pan Atlantic University Accounting examination.

Post Utme Pan Atlantic University 2024 Accounting Objective / Multiple Choice
Question 6 POST_UTME_PAN-ATLANTIC_UNIVERSITY • 2024 • ACCOUNTING • objective

A company's trading account for the year ended 31st December 2023 is as follows: Sales: ₦1,500,000; Purchases: ₦1,200,000; Returns Outwards: ₦20,000; Returns Inwards: ₦15,000. Calculate the gross profit for the year.

Answer Options

Correct Answer A. ₦300,000
B. ₦250,000
C. ₦280,000
D. ₦320,000
Correct Answer
A
Correct Option:
₦300,000

About This Question

This is Post Utme Pan Atlantic University 2024 Accounting Question 6. It is one of the objective questions from the 2024 Post Utme Pan Atlantic University 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