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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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