Neco 2019 Financial Accounting Question 9
Practice objective / multiple choice question 9 from the 2019 Neco Financial Accounting examination.
The following information is available for a trading concern:\n- Opening stock: \(\text{₦}30,000\)\n- Closing stock: \(\text{₦}20,000\)\n- Sales: \(\text{₦}250,000\)\n- Gross profit is 20% of sales.\n- The sum of purchases and an unknown expense recorded in the books is \(\text{₦}195,000\).\nDetermine the amount of the unknown expense.
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About This Question
This is Neco 2019 Financial Accounting Question 9. It is one of the objective questions from the 2019 Neco Financial Accounting examination.
Difficulty level: Hard .
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