Post Utme Al Hikmah University 2017 Commerce Question 21

Practice objective / multiple choice question 21 from the 2017 Post Utme Al Hikmah University Commerce examination.

Post Utme Al Hikmah University 2017 Commerce Objective / Multiple Choice
Question 21 POST_UTME_AL-HIKMAH_UNIVERSITY • 2017 • COMMERCE • objective

The concept of 'Gross Profit' in a business is calculated as the difference between the 'Selling Price' and the 'Cost Price'. However, if the 'Selling Price' is not known, how can the 'Gross Profit' be determined?

Answer Options

A. By using the 'Average Selling Price' method.
B. By using the 'Marginal Costing' method.
C. By using the 'Absorption Costing' method.
Correct Answer D. By using the 'High-Low Method' of inventory valuation.
Correct Answer
D
Correct Option:
By using the 'High-Low Method' of inventory valuation.

About This Question

This is Post Utme Al Hikmah University 2017 Commerce Question 21. It is one of the objective questions from the 2017 Post Utme Al Hikmah University Commerce examination.

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