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When expenses on trading are deducted, the result is the

Commerce
JAMB 2016

When expenses on trading are deducted, the result is the

  • A. rate of turn over
  • B. net profit
  • C. gross profit
  • D. cost of goods sold
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Correct Answer: Option B
Explanation

Net profit is the actual profit after working expenses not included in the calculation of gross profit have been paid/deducted.

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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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WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
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