Post Utme Veritas University 2018 Accounting Question 3

Practice objective / multiple choice question 3 from the 2018 Post Utme Veritas University Accounting examination.

Post Utme Veritas University 2018 Accounting Objective / Multiple Choice
Question 3 POST_UTME_VERITAS_UNIVERSITY • 2018 • ACCOUNTING • objective

A company has the following ledger balances: | Account | Debit | Credit | | --- | --- | --- | | Cash | ₦10,000 | | | Accounts Payable | | ₦5,000 | | Sales Revenue | ₦20,000 | | | Cost of Goods Sold | | ₦15,000 | What is the net profit for the period?

Answer Options

A. ₦5,000
Correct Answer B. ₦10,000
C. ₦15,000
D. ₦20,000
Correct Answer
B
Correct Option:
₦10,000

About This Question

This is Post Utme Veritas University 2018 Accounting Question 3. It is one of the objective questions from the 2018 Post Utme Veritas University Accounting examination.

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