WAEC Accounting 2024 Objective — Question 24
Question 24 of 50 from the West African Examinations Council (WAEC) Accounting 2024 Objective paper, with the correct answer and a full explanation.
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The mark-up for the business is
- A. 4/5
- B. 3/5
- C. 2/3Correct
- D. 1/5
Explanation
If margin (profit/sales) = 2/5, then profit/cost = 2/3, so the mark-up (profit as a fraction of cost) is 2/3.
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