Post Utme Summit University 2023 Accounting Question 4

Practice objective / multiple choice question 4 from the 2023 Post Utme Summit University Accounting examination.

Post Utme Summit University 2023 Accounting Objective / Multiple Choice
Question 4 POST_UTME_SUMMIT_UNIVERSITY • 2023 • ACCOUNTING • objective

A company's trading account for the year ended 31st December 2022 is as follows: Sales: ₦ 500,000, Returns: ₦ 20,000, and Cost of Goods Sold: ₦ 300,000. What is the gross profit?

Answer Options

A. ₦ 150,000
B. ₦ 180,000
Correct Answer C. ₦ 200,000
D. ₦ 220,000
Correct Answer
C
Correct Option:
₦ 200,000

About This Question

This is Post Utme Summit University 2023 Accounting Question 4. It is one of the objective questions from the 2023 Post Utme Summit University Accounting examination.

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