WAEC Accounting 2021 Objective — Question 14
Question 14 of 50 from the West African Examinations Council (WAEC) Accounting 2021 Objective paper, with the correct answer and a full explanation.
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The mark-up is
- A. 88%
- B. 80%Correct
- C. 44.44%
- D. 26.67%
Explanation
Profit = Sales - Cost of goods sold = Le450,000 - Le250,000 = Le200,000. Mark-up = profit/cost = 200,000/250,000 = 0.80 = 80%.
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