Extra Education
← All Fundamentals of Accounting questions
1

In a joint venture X and Y sharing p rofit and loss equally, X purchased goods costing of 40,000 and Y sold the goods for 50,000. X is entitled to get 1% commission on purchase and Y is entitled to get 5% commission on sales, the profit will be

Correct Answer: 7,100

Make the most of this question

This page focuses on one Fundamentals of Accounting question from Faculty. After checking the answer, return to the topic list to practice more or run a timed set.

← More Fundamentals of Accounting MCQsAll Faculty topicsMock test hub
Fundamentals of Accounting MCQ: In a joint venture X and Y sharing p rofit and loss equally, X purchased goods costing of 40,000 and Y sold the goods for 50,000. X is entitled to get 1% commission on purchase and Y is entitled to get 5% commission on sales, the profit will be | Extra Education