Accounting WAEC

What is the Net profit ________?

Use the following information to answer this question. 

₦
Opening capital 60,000
Drawings 4,000
Cost of sales 50,000
General expenses 7,000
Mark-up 50%

What is the Net profit ________?

A. ₦ 43,000
B. ₦25,000
C. ₦23,000
D. ₦18,000

Correct Answer: Option D

D. ₦18,000

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6 years ago

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