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JAMB Accounting 2014 Objective — Question 39

Question 39 of 50 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2014 Objective paper, with the correct answer and a full explanation.

Using the same information, determine the profit on the goods sent to the branch at profit margin of 25% mark-up.

A. N150,000
B. N160,000Correct
C. N170,000
D. N180,000

Explanation

Margin = 25/(100+25) × N800,000 = N160,000.

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