Use the following information to answer this question
The following are the final accounts of a trading organisation Wazobi ventures, for the year ended 30th June, 19x8
Calculate the net profit on percentage of expenses.
The following are the final accounts of a trading organisation Wazobi ventures, for the year ended 30th June, 19x8
| ₦ | ₦ | |
| Salesless: cost of goods sold | 233,000170,000 | |
| 63,000 | ||
| less: Overhead ExpensesAdmin expensesSelling expensesOther overhead expenses | 16,80015,0006,200 | |
| Net profit | 25,000 |
Calculate the net profit on percentage of expenses.
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Correct Answer: Option D
Explanation:
Net profit on % of expenses =
Net profit  x 100
Expenses
= \(\frac{25000}{38000}\) x 100
= 65.7%
Net profit on % of expenses =
Net profit  x 100
Expenses
= \(\frac{25000}{38000}\) x 100
= 65.7%