Accounts (Principles of Accounts)Incomplete recordsJAMB
Goods are sold at a margin of 20% on selling price. If sales are ₦500,000, the gross profit is
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Answer: C. ₦100,000
Margin is on sales: 500,000 × 20% = ₦100,000.
An AdmitMe practice question, written for the JAMB syllabus. Not an official past question.