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JAMB Accounting 2012 Objective — Question 16

Question 16 of 50 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2012 Objective paper, with the correct answer and a full explanation.

(Using the same information as Q15) Calculate the net profit.

A. ₦35,000
B. ₦40,000Correct
C. ₦105,000
D. ₦115,000

Explanation

Net profit = Gross profit − Rent expenses = 140,000 − 35,000 = ₦105,000.

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