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Percentage of net profit to turnover

Commerce
JAMB 2019

Use this information to answer this question. Below is the trading, profit and loss Account particulars of Amadi peterside and Brothers for the year ended 31st December 1986.

   
Opening stock
Purchase
1000
7000
Sales 8000
Closing Stock 3000


Trading Expenses


Electricity
Salaries
Rent
Depreciations

135
875
180
210


From the figures given, calculate

Percentage of net profit to turnover

  • A. 30%
  • A. 5%
  • B. 10%
  • D. 20%
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Correct Answer: Option D
Explanation
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WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts