Post Utme Uniport 2024 Accounting Question 26

Practice objective / multiple choice question 26 from the 2024 Post Utme Uniport Accounting examination.

Post Utme Uniport 2024 Accounting Objective / Multiple Choice
Question 26 POST_UTME_UNIPORT • 2024 • ACCOUNTING • objective

A company's trading account shows a profit of ₦100,000. The company's profit and loss account shows a net profit of ₦150,000. The company's balance sheet shows a net worth of ₦200,000. What is the reason for the difference between the trading account profit and the net worth?

Answer Options

A. The company has made a non-trading income.
Correct Answer B. The company has made a non-trading expense.
C. The company has made a capital gain.
D. The company has made a capital loss.
Correct Answer
B
Correct Option:
The company has made a non-trading expense.

About This Question

This is Post Utme Uniport 2024 Accounting Question 26. It is one of the objective questions from the 2024 Post Utme Uniport Accounting examination.

View More Post Utme Uniport 2024 Accounting Questions More Post Utme Uniport Practice Questions Back to Questions

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