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3. Chatenga Ltd made sales of K210, 000 in 2019. Its cost of sales and operating expenses were K70,000 and K60, 000 respectively. The gross

3. Chatenga Ltd made sales of K210, 000 in 2019. Its cost of sales and operating expenses were K70,000 and K60, 000 respectively. The gross profit is recorded as K150, 000 and Profit for the year as K80, 000. According to the matching concept, is the calculation of gross profit and profit for the year correct

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