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Accounts (Principles of Accounts) · Final accounts of a sole trader

Accounts (Principles of Accounts)Final accounts of a sole traderWAEC

Gross profit is ₦180,000, total expenses ₦95,000 and discount received ₦5,000. Find the net profit.

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Answer: D. ₦90,000

180,000 + 5,000 − 95,000 = ₦90,000.

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