Post Utme Skyline University 2020 Accounting Question 19

Practice objective / multiple choice question 19 from the 2020 Post Utme Skyline University Accounting examination.

Post Utme Skyline University 2020 Accounting Objective / Multiple Choice
Question 19 POST_UTME_SKYLINE_UNIVERSITY • 2020 • ACCOUNTING • objective

A company's trading account shows a profit of ₦200,000. The company's profit and loss account shows a net profit of ₦250,000. The company's balance sheet shows a net worth of ₦500,000. What is the correct order of preparation of the financial statements?

Answer Options

Correct Answer A. Trading Account, Profit and Loss Account, Balance Sheet
B. Balance Sheet, Profit and Loss Account, Trading Account
C. Profit and Loss Account, Trading Account, Balance Sheet
D. Trading Account, Balance Sheet, Profit and Loss Account
Correct Answer
A
Correct Option:
Trading Account, Profit and Loss Account, Balance Sheet

About This Question

This is Post Utme Skyline University 2020 Accounting Question 19. It is one of the objective questions from the 2020 Post Utme Skyline University Accounting examination.

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