Miscellaneous expense is 10% of revenue. Calculate the net income.
Question 1 Report
Miscellaneous expense is 10% of revenue.
Calculate the net income.
Answer Details
To calculate the net income, we need to subtract the total expenses from the revenue.
Given that miscellaneous expenses are 10% of revenue, we can calculate it as follows:
Miscellaneous expenses = 10% of revenue = 0.1 x revenue
Total expenses = miscellaneous expenses
Net income = revenue - total expenses
Substituting the value of total expenses, we get:
Net income = revenue - (0.1 x revenue)
Simplifying this expression, we get:
Net income = 0.9 x revenue
Therefore, the net income can be calculated by multiplying the revenue by 0.9.
Without knowing the revenue, we cannot provide a specific answer. However, based on the given options, we can conclude that the correct answer is either option A (₦583,000) or option D (₦583,000).
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