O-LevelAccountingAnalysis and interpretation7707/13 · Oct/Nov 2020 · Q271 Mark

A trader made the following forecasts for the business for the next financial year. average inventory $80 000 rate of inventory turnover 6 times mark-up 25% What are the forecast sales for the next financial year?

A$360000

B$480.000

C$576000

D$600000

✓ Correct answer

D: $600000

Oracle Prep sorts past-paper questions by topic, so you can drill Analysis and interpretation and see which topics are most likely to come up next.

Topic: Analysis and interpretation, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2020 Paper 1 Variant 3, question 27.

Questions and mark schemes are from past examination papers and remain the copyright of the exam board. How Oracle Prep builds its content

A trader's income statement (trading and profit and loss account) showed a gross profit and a loss for the year (net …

Simi had the following assets and liabilities. $ inventory (stock) 6300 trade receivables (debtors) 5000 cash 800 tra…

What is the formula for calculating rate of inventory (stock) turnover?

How is the factory cost of production calculated?

A sole trader purchased the following items from an office supplier. $ calculator 10 computer system 2000 document sh…

Bi-Appah thinks her business will be worth more when she takes on new, highly skilled staff. Which accounting princip…