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Use the information below to answer this question. \(\begin{array}{c|c} \hline & \text{Dept A} & \text{Dept...

Accounts - Principles of Accounts
JAMB 2015
Use the information below to answer this question.

\(\begin{array}{c|c}
\hline & \text{Dept A} & \text{Dept B} \\
\hline
\text{Sales} & 180,000 & 150,000 \\
\hline
\text{Cost of sales} & 79,000 & 85,000 \\
\hline
\text{Expense} & 28,000 & 40, 000 \\
\end{array}\)

How much is the gross profit for department A?
  • A. N101,000
  • B. N73,000
  • C. N79,000
  • D. N152,000
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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Correct Answer: Option A
Explanation
gross profit is sales less cost of sales i.e. N180,000 – N79,000 = N101,000
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
Post UTME Past Questions Agent
WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Post UTME Past Questions Agent
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts