JAMB Accounting 2015 Objective — Question 26

Question 26 of 50 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2015 Objective paper, with the correct answer and a full explanation.

The contribution margin on a job is

A. the Gross profitCorrect
B. the Net profit
C. the excess of sales revenue over variable costs
D. the difference between fixed and variable costs

Explanation

Per the source's answer key, contribution margin is treated here as the term used for gross profit in management accounting (note: the standard textbook definition is 'excess of sales revenue over variable costs', option C).

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