A fire occurred in godown of Big
Bazaar in 2020-21. The gross profit
ratios of past 4 years were: 2016-17 =
14%; 2017-18 = 16%: 2018-19 = 18% &
2019-20 = 20%. What will be the
Gross Profit ratio used while
preparing Memorandum Trading
account?
25%
20%
17%
22%
Answers
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2
Answer:
20%
Explanation:
20% is taken as Gross profit Ratio while preparation of Memorandum Trading Account
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