Post Utme Redeemers University 2020 Commerce Question 30

Practice objective / multiple choice question 30 from the 2020 Post Utme Redeemers University Commerce examination.

Post Utme Redeemers University 2020 Commerce Objective / Multiple Choice
Question 30 POST_UTME_REDEEMERS_UNIVERSITY • 2020 • COMMERCE • objective

A company's financial statement shows a net loss of ₦250,000. What is the accounting treatment for this loss?

Answer Options

Correct Answer A. Deduct the loss from the company's retained earnings
B. Transfer the loss to the company's reserves
C. Deduct the loss from the company's profits
D. Transfer the loss to the company's shareholders
Correct Answer
A
Correct Option:
Deduct the loss from the company's retained earnings

About This Question

This is Post Utme Redeemers University 2020 Commerce Question 30. It is one of the objective questions from the 2020 Post Utme Redeemers University Commerce examination.

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