O-LevelAccountingAnalysis and interpretation7707/11 · May/June 2019 · Q271 Mark

A business's sales are $100000, the expenses are $30000 and the profit for the year is $20000. What is the gross profit/sales ratio?

A10%

B50%

C70%

D80%

✓ Correct answer

A: 10%

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Topic: Analysis and interpretation, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2019 Paper 1 Variant 1, question 27.

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