Post Utme Veritas University 2021 Accounting Question 29

Practice objective / multiple choice question 29 from the 2021 Post Utme Veritas University Accounting examination.

Post Utme Veritas University 2021 Accounting Objective / Multiple Choice
Question 29 POST_UTME_VERITAS_UNIVERSITY • 2021 • ACCOUNTING • objective

A company prepares its financial statements for the year. The trading account shows a profit of ₦50,000, and the profit and loss account shows a profit of ₦30,000. What is the net result of these two accounts?

Answer Options

Correct Answer A. ₦80,000 profit
B. ₦80,000 loss
C. ₦50,000 profit
D. ₦50,000 loss
Correct Answer
A
Correct Option:
₦80,000 profit

About This Question

This is Post Utme Veritas University 2021 Accounting Question 29. It is one of the objective questions from the 2021 Post Utme Veritas University Accounting examination.

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