WAEC Agricultural Science 2022 Objective — Question 50

Question 50 of 50 from the West African Examinations Council (WAEC) Agricultural Science 2022 Objective paper, with the correct answer and a full explanation.

The gross profit of a farm business is

A. net sales less cost of production
B. total sales less operating expenses
C. net sales less taxation
D. total sales less cost of productionCorrect

Explanation

Gross profit is the profit made after deducting the cost of producing and selling goods/services from total sales — total sales less cost of production.

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