JAMB Accounting 2009 Objective — Question 30

Question 30 of 50 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2009 Objective paper, with the correct answer and a full explanation.

30. Using the same data, what is the net profit?

A. #46,000
B. #45,000
C. #28,000Correct
D. #27,000

Explanation

Net profit = Gross profit 31,000 - (Selling expenses 2,000 + Admin expenses 1,000) = #28,000.

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