JAMB Accounting 2025 Objective — Question 20

Question 20 of 41 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2025 Objective paper, with the correct answer and a full explanation.

Net profit is calculated in which of the following statements?

A. Profit and loss accountCorrect
B. Balance sheet
C. Trial balance
D. Trading account

Explanation

Net profit will show in the profit and loss account if the credit side of the account is higher than the debit side.

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