if a firm has a turnover of N50 000 and the cost of goods sold
COMMERCE
JAMB 2009
if a firm has a turnover of N50 000 and the cost of goods sold is N40 000, what is the percentage of gross profit on sale?
- A. 30.5%
- B. 20.5%
- C. 20.0%
- D. 10.0%
Correct Answer: C. 20.0%
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