Post Utme Veritas University 2021 Accounting Question 15

Practice objective / multiple choice question 15 from the 2021 Post Utme Veritas University Accounting examination.

Post Utme Veritas University 2021 Accounting Objective / Multiple Choice
Question 15 POST_UTME_VERITAS_UNIVERSITY • 2021 • ACCOUNTING • objective

A company's income statement for the year ended December 31, 2022, shows the following balances: Sales Revenue ₦500,000, Cost of Goods Sold ₦300,000, and Net Income ₦150,000. What is the gross profit margin?

Answer Options

Correct Answer A. 30%
B. 40%
C. 50%
D. 60%
Correct Answer
A
Correct Option:
30%

About This Question

This is Post Utme Veritas University 2021 Accounting Question 15. It is one of the objective questions from the 2021 Post Utme Veritas University Accounting examination.

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