Post Utme Wellspring University 2017 Accounting Question 38

Practice objective / multiple choice question 38 from the 2017 Post Utme Wellspring University Accounting examination.

Post Utme Wellspring University 2017 Accounting Objective / Multiple Choice
Question 38 POST_UTME_WELLSPRING_UNIVERSITY • 2017 • ACCOUNTING • objective

A company's trial balance shows the following balances: Accounts Payable ₦50,000, Sales Revenue ₦200,000, Cost of Goods Sold ₦150,000. Prepare a statement of profit or loss for the year.

Answer Options

Correct Answer A. Profit for the year ₦50,000
B. Loss for the year ₦50,000
C. Profit for the year ₦100,000
D. Loss for the year ₦100,000
Correct Answer
A
Correct Option:
Profit for the year ₦50,000

About This Question

This is Post Utme Wellspring University 2017 Accounting Question 38. It is one of the objective questions from the 2017 Post Utme Wellspring University Accounting examination.

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