- 1 Marks
Question
Profit expressed as a percentage of selling price is known as?
Answer
Profit Margin
Explanation: Profit margin refers to the percentage of profit relative to the selling price of a product or service. It shows how much profit is generated from each unit sold and is an important indicator of the profitability of the business.
- Tags: Profit Margins, Selling Price
- Level: Level 1
- Topic: Accounting Concepts
- Series: NOV 2011
- Uploader: Theophilus