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At the end of a financial period, the trading profit and loss account of a compa...


Question

At the end of a financial period, the trading profit and loss account of a company showed a profit of ₦120,000. It was however discovered that revenue of ₦12,000 was recorded as expenses while expenses of ₦4,000 had been recorded as revenue. What should be the correct profit for the period?

Options

A)
₦104,000
B)
₦128,000
C)
₦136,000
D)
₦144,000

The correct answer is B.


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