Profit And Loss Quiz 59 (10 MCQs)

Quiz Instructions

Select an option to see the correct answer instantly.

1. A radio set was sold for N4000 at a loss of N350. What was the cost price?

Correct Answer: A) N4350.

2. Profit or Loss is calculated on the

Correct Answer: B) CP.

3. A bicycle is bought for $ 1,400 but then sold for$ 1, 232. Calculate the profit or loss obtained.

Correct Answer: D) Loss $ 168.

4. Indah bought a watch for Rp200,000 and sold it for Rp180,000.

Correct Answer: B) Loss.

5. What is the formula for profit after tax?

Correct Answer: B) Net profit before tax-corporation tax.

6. Which one should be greater, CP or SP to make profit?

Correct Answer: B) SP.

7. If Raghav buys a book for 20rs and sells it for 50rs is it a profit or a loss.

Correct Answer: C) Profit of 30rs.

8. How do you define loss?

Correct Answer: D) When costs exceed revenue.

9. When an item is worth less than what you owe on it, you have:

Correct Answer: A) Negative Equity.

10. When the selling price is less than cost price, it is called?

Correct Answer: B) Loss.