O-LevelAccountingPreparation of financial statements7707/12 · Oct/Nov 2024 · Q311 Mark

A jewellery retailer marks up his goods by 100%. He provided the following information. revenue $68 200 discount received $1080 profit for the year $18395 What was the total of his expenses?

A$14625

B$16785

C$48725

D$50 885

✓ Correct answer

B: $16785

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Topic: Preparation of financial statements, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2024 Paper 1 Variant 2, question 31.

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