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GCE Commerce 1990 Question 57

Question 57

Business Calculations

Total sales less total returns inwards is called

  1. A.purchases
  2. B.net profit
  3. C.gross profit
  4. D.average stock
  5. E.net sales
Show the answer and explanation

Answer: E (net sales)

Explanation

Net sales (turnover) = sales − returns inwards.