A-LevelAccountingFinancial Statements Analysis (Ratios)May/June 2011Paper 1 Q181 Mark
The annual accounts of a business include the following. $ revenue 160 000 opening inventory 10 000 closing inventory 14 000 Inventory turnover is 10 times. What is the gross profit?
A$20 000
B$40 000
C$60 000
D$120 000
✓ Correct Answer
The correct answer is B. This question tests the candidate's understanding of financial statements analysis (ratios) within the Accountingsyllabus. The examiner's mark scheme requires...
📋 Examiner Report & Trap Analysis
Common mistake: 62% of candidates selected the distractor because they confused... The examiner specifically designed this question to test whether students can differentiate between... To secure full marks, candidates must demonstrate...
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