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WAEC Financial Accounting 2026 Question 15

Question 15

Final Accounts of a Sole Trader

Sales less returns inwards equals

  1. A.gross profit
  2. B.gross sales.
  3. C.net profit.
  4. D.net sales.
Show the answer and explanation

Answer: D (net sales.)

Explanation

Taking returns inwards away from sales gives net sales (turnover).