Post Utme Wellspring University 2019 Commerce Question 30

Practice objective / multiple choice question 30 from the 2019 Post Utme Wellspring University Commerce examination.

Post Utme Wellspring University 2019 Commerce Objective / Multiple Choice
Question 30 POST_UTME_WELLSPRING_UNIVERSITY • 2019 • COMMERCE • objective

A company's income statement for the year ended December 31, 2022, is as follows: Revenue ₦10,000,000; Cost of Goods Sold ₦6,000,000; Gross Profit ₦4,000,000; Operating Expenses ₦2,000,000; Net Income ₦2,000,000. The gross margin ratio is

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 Wellspring University 2019 Commerce Question 30. It is one of the objective questions from the 2019 Post Utme Wellspring University Commerce examination.

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