WAEC Past Questions and Answers - Page 976

4,876.

Bosun bought goods worth N500 and sold it at a margin of 20% on selling price. For how much did he sell the goods?

A.

N100

B.

N125

C.

N500

D.

N600

E.

N625

Correct answer is E

No explanation has been provided for this answer.

4,877.

Profit expressed as a proportion of cost price is known as

A.

Gross profit

B.

Profit make-up

C.

Profit margin

D.

Profit percentage

E.

Profit ratio

Correct answer is B

No explanation has been provided for this answer.

4,878.

Which of the following errors will not allow a trial balance to agree?

A.

Where a transaction is completely omitted from the books

B.

Where the correct amount is entered but in the wrong account

C.

Where the figure entered on one side is different from the one entered on the other side

D.

Where an item is entered in the wrong class of account

E.

Where the correct amount is used but each item is shown on the wrong side of the account

Correct answer is C

No explanation has been provided for this answer.