Post Utme Igbinedion University 2023 Commerce Question 5
Practice objective / multiple choice question 5 from the 2023 Post Utme Igbinedion University Commerce examination.
A company, DEF Limited, is considering the introduction of a new product. The product is expected to generate sales of ₦20 million in the first year, ₦25 million in the second year, and ₦30 million in the third year. The company's cost of production is ₦15 million in the first year, ₦18 million in the second year, and ₦21 million in the third year. What is the contribution margin ratio (CMR) in terms of sales?
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About This Question
This is Post Utme Igbinedion University 2023 Commerce Question 5. It is one of the objective questions from the 2023 Post Utme Igbinedion University Commerce examination.
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