Post Utme Wellspring University 2023 Accounting Question 19
Practice objective / multiple choice question 19 from the 2023 Post Utme Wellspring University Accounting examination.
A company prepares its final accounts for the year ended 31st December 2022. The trading account shows a gross profit of ₦150,000 and a net profit of ₦80,000. The balance sheet shows a capital of ₦200,000 and a profit and loss appropriation account shows a balance of ₦20,000. What is the correct classification of the balance of the profit and loss appropriation account?
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About This Question
This is Post Utme Wellspring University 2023 Accounting Question 19. It is one of the objective questions from the 2023 Post Utme Wellspring University Accounting examination.
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