Use the information below to answer this question At the end of a financial period,...
FINANCIAL
JAMB 2021
Use the information below to answer this question
At the end of a financial period, the trading profit and loss account of a sole trader shows a profit of ₦180,000 it is however discovered that revenue of ₦15,000 is recorded as expenses while expenses of ₦4,000 is recorded as revenue.
Determine the adjusted net profit
- A. ₦202,000
- B. ₦210,000
- C. ₦195,000
- D. ₦184,000
Correct Answer: A. ₦202,000
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