if a firm has a turnover of N50 000 and the cost of goods sold…

if a firm has a turnover of N50 000 and the cost of goods sold is N40 000, what is the percentage of gross profit on sale?
  • A.
    30.5%
  • B.
    20.5%
  • C.
    20.0%
  • D.
    10.0%
Correct Answer: Option C
Explanation
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