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JAMB Accounting 2018 Objective — Question 12

Question 12 of 40 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2018 Objective paper, with the correct answer and a full explanation.

The excess of sales over cost of goods sold is the

A. gross sales
B. gross profitCorrect
C. net profit
D. net sales

Explanation

Gross profit is the excess of sales over the cost of goods sold.

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