- 1 Marks
FA – May 2012 – L1 – SA – Q16 – Accounting Concepts
Determining correct statements regarding margin and mark-up.
Question
If goods that cost N900,000 were sold for N1,200,000, which of the following statements are correct?
(i) Mark-up is 25%
(ii) Margin is 331/3%
(iii) Margin is 25%
(iv) Mark-up is 331/3%
A. (i) and (ii)
B. (i) and (iii)
C. (ii) and (iii)
D. (iii) and (iv)
E. (ii) and (iv)
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