Waec Model Questions Vol1 2017 Commerce Question 33
Practice objective / multiple choice question 33 from the 2017 Waec Model Questions Vol1 Commerce examination.
An investor buys shares of XYZ as follows: 100 shares at ₦250 each, 150 shares at ₦260 each and 200 shares at ₦255 each. Brokerage commission is 2 % of the transaction value for every purchase and for every sale. He later sells 300 shares at ₦270 each and a securities transaction tax (STT) of 0.5 % is charged on the sale value only. Using the FIFO method to determine the cost of the sold shares, what is the net profit realized from the sale of the 300 shares?
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About This Question
This is Waec Model Questions Vol1 2017 Commerce Question 33. It is one of the objective questions from the 2017 Waec Model Questions Vol1 Commerce examination.
Difficulty level: Hard .
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