
Gross Profit Calculation Quiz
Authored by Jide Babatope
Business
2nd Grade

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9 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Calculate the gross profit or gross loss of each of the following businesses: Cost of goods purchased: £9,820, Sales: £10,676
Gross profit: £856
Gross loss: £856
Gross profit: £1,000
Gross loss: £1,000
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Calculate the gross profit or gross loss of each of the following businesses: Cost of goods purchased: £7,530, Sales: £14,307
Gross profit: £6,777
Gross profit: £5,000
Gross profit: £7,000
Gross profit: £6,000
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Calculate the gross profit or gross loss of each of the following businesses: Cost of goods purchased: £10,500, Sales: £19,370
Gross profit: £8,870
Gross profit: £9,000
Gross loss: £1,000
Gross profit: £7,500
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Calculate the gross profit or gross loss of each of the following businesses: Cost of goods purchased: £9,580, Sales: £9,350
Gross loss: £230
Gross profit: £230
Gross profit: £9,350
Gross loss: £9,580
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Calculate the gross profit or gross loss of each of the following businesses: Cost of goods purchased: £8,760, Sales: £17,200
Gross profit: £8,440
Gross profit: £7,000
Gross profit: £9,000
Gross profit: £8,000
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
At 1 June Mary has 30 cookers in inventory. During June she sells 76 cookers. She purchases more cookers in June: 35 are delivered on 10 June and 40 are delivered on 24 June. What is the closing inventory of cookers at the end of June?
29 cookers
30 cookers
35 cookers
40 cookers
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
At 1 July, John has 50 refrigerators in inventory. During July, he sells 85 refrigerators. He purchases more refrigerators in July: 40 are delivered on 15 July and 30 are delivered on 28 July. What is the closing inventory of refrigerators at the end of July?
35 refrigerators
40 refrigerators
45 refrigerators
50 refrigerators
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