NECO Accounting 2022 Objective — Question 46
Question 46 of 50 from the National Examinations Council (NECO) Accounting 2022 Objective paper, with the correct answer and a full explanation.
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Using the information in Q45, the gross profit is
- A. GH¢152,800
- B. GH¢107,200
- C. GH¢88,800Correct
- D. GH¢43,200
Explanation
Gross profit = Net sales - Cost of goods sold = (200,000 - 40,000) - 107,200 = GH¢88,800.
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