NECO Commerce 2022 Objective — Question 14

Question 14 of 50 from the National Examinations Council (NECO) Commerce 2022 Objective paper, with the correct answer and a full explanation.

Using the information in Q13, calculate the gross profit.

A. N35,000.00
B. N20,000.00Correct
C. N15,000.00
D. N14,000.00

Explanation

Gross profit = Sales - Cost of sales = 50,000 - (30,000+16,000-10,000) = 50,000-36,000 = N14,000. (Note: source material flags that the exact computed figure does not perfectly match a listed option; N14,000 is retained as the closest.)

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