N6,950 credit
N6,950 debit
N6,000 credit
N6,000 debit
Correct answer is B
2600 + 28200 - 15000 - 7600 - 1250 = 6950 (debit balance)
N35,000
N40,000
N105,000
N115,000
Correct answer is C
Net profit = Gross profit - expenses
To get gross profit subtract cost of goods sold from sales. Hence we have;
370,000 - 230,000 = 140,000
Net profit = 140,000 - 35,000 = 105,000
Use the information above to answer the question
N370,000
N230,000
N150,000
N140,000
Correct answer is D
Gross profit = sales - cost of goods sold
370,000 - 230,000 = 140,000
The 5% discount shown above indicates
Trade discount
Cash discount
Discount allowed
Discount received
Correct answer is A
A trade discount is the amount by which a manufacturer or wholesaler reduces the retail price of a product when it sells to a reseller, rather than to the end customer.
Given:
From the above information, the gross profit from department X is
N3,800
N2,300
N2,200
N2,000
Correct answer is C
Gross profit = sales - cost of goods sold
3000 - 800 = 2200
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Aptitude Tests