Neco 2025 Financial Accounting Question 36
Practice objective / multiple choice question 36 from the 2025 Neco Financial Accounting examination.
Using the information below, compute the net profit for the year. Sales: 500,000 Opening Stock: 80,000 Purchases: 300,000 Closing Stock: 70,000 Carriage Inwards: 5,000 Salaries: 40,000 Rent: 12,000 Machinery cost: 80,000 (depreciated at 10% p.a.) Loan amount: 100,000 (interest rate 6% p.a.) Bad debts written off: 2,000 Discount allowed: 1,500 Discount received: 1,200
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About This Question
This is Neco 2025 Financial Accounting Question 36. It is one of the objective questions from the 2025 Neco Financial Accounting examination.
Difficulty level: Medium .
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