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JAMB Accounting 2025 Objective — Question 19

Question 19 of 41 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2025 Objective paper, with the correct answer and a full explanation.

Gross profit is

A. Cost of goods sold + Opening stock
B. Sales – cost of goods soldCorrect
C. Sales – Purchases
D. Net profit – expenses

Explanation

Gross profit is sales less cost of goods sold.

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