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JAMB Commerce 1995 Question 17

Question 17

Business Calculations

Profit that is expressed as a percentage of cost of goods sold is referred to as

  1. A.margin
  2. B.mark-up
  3. C.gain percent
  4. D.gross profit.
Show the answer and explanation

Answer: B (mark-up)

Explanation

Mark-up is profit as a percentage of cost; margin is profit as a percentage of selling price.