If rate of profit is 25% of cost, then it is
A. 25% on sales price
B. 33% on sales price
C. 20% on sales price
D. $$33\frac{1}{3}\% $$ on sales price
Answer: Option C
This Question Belongs to Commerce >> Accounting
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Accounting provides information on
A. Cost and income for managers
B. Company's tax liability for a particular year
C. Financial conditions of an institutions
D. All of the above
The long term assets that have no physical existence but are rights that have value is known as
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
The assets that can be converted into cash within a short period (i.e. 1 year or less) are known as
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
Patents, Copyrights and Trademarks are
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
ASSUME COST PRICE IS = 100
+ COST PROFIT =100+25=125
SALE PRICE =COST PROFIT / COST PRICE+ COST PROFIT*100
=25/125*100
SALE PRICE =20%