Paper 1 · November 2013 · Ratios and Interpretation
A business provides the following information.
| Sales | $20 000 |
| Gross profit | 25% of sales |
| Net profit | 10% of sales |
Operating expenses amounted to
A$2 000.
B$3 000.
C$5 000.
D$7 000.
Explanation
Gross profit less net profit leaves expenses of .
ZIMSEC Principles of Accounts 7112/1 Paper 1 (Multiple Choice), November 2013, Q27