Question 17
Question 17 of 40
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No letter options?
Older MCQs might not have the typical A, B, C, D choices. They have choices 1, 2, 3, and a combination of them is the answer. Below is the key that maps such combinations to the answer.
A 1, 2 and 3 are correct
B 1 and 2 only are correct
C 2 and 3 only are correct
D 1 only is correct
Topics Tested
3. Globalisation of trade
3.1.3. Balance of Trade and Balance...

calculation and interpretation of Balance of Trade and Balance of Payments from given figures

5. Aids to trade that sup...
5.4.2. Commercial calculations

the calculation of revenue, gross profit, gross profit margin, profit for the year (net profit), working capital and mark-up percentage 1 Revenue (Sales or Turnover) = Selling price per unit × Number of units sold 2 Gross profit = Revenue – Cost of Sales (the cost of purchasing inventory) 3 Gross profit margin (%) = Gross profit ÷ Revenue × 100 4 Net profit/net loss for the year = Gross profit – Expenses 5 Working capital = Current assets – Current liabilities 6 Mark-up percentage = (Average Selling Price – Unit Cost) ÷ Unit Cost