Post Utme Wellspring University 2018 Accounting Question 28

Practice objective / multiple choice question 28 from the 2018 Post Utme Wellspring University Accounting examination.

Post Utme Wellspring University 2018 Accounting Objective / Multiple Choice
Question 28 POST_UTME_WELLSPRING_UNIVERSITY • 2018 • ACCOUNTING • objective

A company's profit and loss account for the year ended 31st December 2022 is as follows: Sales: ₦1,500,000; Purchases: ₦1,200,000; Returns Outwards: ₦50,000; Returns Inwards: ₦20,000. Calculate the company's net profit for the year.

Answer Options

Correct Answer A. ₦200,000
B. ₦220,000
C. ₦240,000
D. ₦260,000
Correct Answer
A
Correct Option:
₦200,000

About This Question

This is Post Utme Wellspring University 2018 Accounting Question 28. It is one of the objective questions from the 2018 Post Utme Wellspring University Accounting examination.

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