O-LevelAccountingAnalysis and interpretation7707/12 · May/June 2016 · Q211 Mark

What is mark-up?

Agross profit expressed as a percentage of cost of sales

Bgross profit expressed as a percentage of sales

Cprofit for the year expressed as a percentage of cost of sales

Dprofit for the year expressed as a percentage of sales

✓ Correct answer

A: gross profit expressed as a percentage of cost of sales

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Topic: Analysis and interpretation, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2016 Paper 1 Variant 2, question 21.

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