WAEC Accounting 2014 Objective — Question 40
Question 40 of 50 from the West African Examinations Council (WAEC) Accounting 2014 Objective paper, with the correct answer and a full explanation.
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A company made a net profit of N2,000,000 for the year and its net profit percentage is 25%. What is the total sales for the year?
- A. N8,000,000Correct
- B. N6,000,000
- C. N800,000
- D. N500,000
Explanation
If margin is 25% (1/4), Sales = 4 × 2,000,000 = N8,000,000.
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