Question 35

Use the following information to answer question,
\(\begin{array}{c|c} & ₦\\ \hline \text{Opening stock} & 40,000\\ \text{Purchases} & 130,000\\ \text{Closing stocks} & 32,000 \\ \text{sales} & 180,000\end{array}\)
What was the gross profit?

  • A.₦8,000
  • B.₦50,000
  • C.₦42,000
  • D.₦10,000
Objective

Question details

Exam body
WAEC
Subject
Accounts - principles of accounts
Year
2003
Question no.
#35
Type
Objective

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