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Income statement (Trading and profit and loss account) - Jamb Accounts - Principles of Accounts Past Questions and Answers

Jamb Accounts - Principles of Accounts Past Questions

Jamb Past Questions and Answers on Income statement (Trading and profit and loss account)

Question 61:

JAMB 2019

Use the following to answer this question

Opening stockPurchasesSalesClosing Stocks

â‚¦20,00070,000100,00015,000

What was the gross profit?

A. â‚¦35,000
B. ₦75,000
C. â‚¦50,000
D. â‚¦25,000

View Answer & Explanation

Question 62:

JAMB 2019

In the preparation of statement of profit, if the opening capital is greater than closing capital, there will be

A. Profit
B. Capital
C. Loss
D. Cash

View Answer & Explanation

Jamb Subjects

• Accounts - Principles of Accounts

• Christian Religious Knowledge (CRK)

• Islamic Religious Knowledge (IRK)

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Income statement (Trading and profit and loss account) - Jamb Accounts - Principles of Accounts Past Questions and Answers

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Jamb Accounts - Principles of Accounts Past Questions

Jamb Past Questions and Answers on Income statement (Trading and profit and loss account)

Question 61:

Question 62:

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