O-LevelAccountingAnalysis and interpretation7707/12 · May/June 2015 · Q271 Mark

A business provided the following information. $ cost of sales 60 000 gross profit 40 000 expenses 25 000 What was the profit for the year as a percentage of revenue?

A12%

B15%

C20%

D25%

✓ Correct answer

B: 15%

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Topic: Analysis and interpretation, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2015 Paper 1 Variant 2, question 27.

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