Post Utme Rhema University 2020 Accounting Question 15

Practice objective / multiple choice question 15 from the 2020 Post Utme Rhema University Accounting examination.

Post Utme Rhema University 2020 Accounting Objective / Multiple Choice
Question 15 POST_UTME_RHEMA_UNIVERSITY • 2020 • ACCOUNTING • objective

A company's trading account for the year ended 31st December 2020 is as follows: Sales: ₦1,500,000; Purchases: ₦1,200,000; Returns Outwards: ₦50,000; Returns Inwards: ₦20,000. Calculate the gross profit for the year.

Answer Options

A. ₦200,000
B. ₦250,000
Correct Answer C. ₦300,000
D. ₦350,000
Correct Answer
C
Correct Option:
₦300,000

About This Question

This is Post Utme Rhema University 2020 Accounting Question 15. It is one of the objective questions from the 2020 Post Utme Rhema University Accounting examination.

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