Free account: track your progress — Sign up free

WAEC Accounting 2014 Objective — Question 19

Question 19 of 50 from the West African Examinations Council (WAEC) Accounting 2014 Objective paper, with the correct answer and a full explanation.

Net profit in a business is

A. the amount of money taken out of the business by the owner
B. The cash in the business bank account
C. the difference between sales and cost of sales
D. sales revenue less cost of sales expensesCorrect

Explanation

Net profit is sales revenue less the cost of sales and other operating expenses.

Sign up free to unlock

Score tracking
Practice history
Saved questions
Progress dashboard
Personalized sessions
Weak-topic breakdown

…and/or go further with premium services and No Ads.

Create free account

More questions from Accounting 2014 Objective More Accounting past papers