Post Utme Al Hikmah University 2018 Accounting Question 33

Practice objective / multiple choice question 33 from the 2018 Post Utme Al Hikmah University Accounting examination.

Post Utme Al Hikmah University 2018 Accounting Objective / Multiple Choice
Question 33 POST_UTME_AL-HIKMAH_UNIVERSITY • 2018 • ACCOUNTING • objective

A company's income statement for the year ended December 31, 2022, is as follows: Revenue: ₦1,500,000 Cost of Goods Sold: ₦900,000 Gross Profit: ₦600,000 Operating Expenses: ₦150,000 Net Profit: ₦450,000 What is the company's gross profit margin?

Answer Options

A. 40%
Correct Answer B. 50%
C. 60%
D. 70%
Correct Answer
B
Correct Option:
50%

About This Question

This is Post Utme Al Hikmah University 2018 Accounting Question 33. It is one of the objective questions from the 2018 Post Utme Al Hikmah University Accounting examination.

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support