WAEC Accounting 2024 Objective — Question 9
Question 9 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 gross profit is
- A. Le 60,000
- B. Le 45,000Correct
- C. Le 44,400
- D. Le 33,750
Explanation
At a 33 1/3% mark-up, profit is 1/4 of cost of sales, i.e. 1/4 x Le180,000 = Le45,000.
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