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

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

Sales ₦50,000, cost of sales ₦30,000, expenses ₦12,000. Net profit is

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Answer: B. ₦8,000

Gross profit 20,000 − 12,000 = 8,000.

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