JAMB Commerce 2022 Objective — Question 30

Question 30 of 40 from the Joint Admissions and Matriculation Board (JAMB) Commerce 2022 Objective paper, with the correct answer and a full explanation.

Profit that is expressed as a percentage of the cost of goods sold is referred to as

A. margin
B. mark-upCorrect
C. gain per cent
D. gross profit

Explanation

Mark-up is profit expressed as a percentage of the cost of goods sold (margin is profit expressed as a percentage of selling price).

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