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

\$5\,000

less net profit

\$2\,000

leaves expenses of

\$3\,000

ZIMSEC Principles of Accounts 7112/1 Paper 1 (Multiple Choice), November 2013, Q27

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