A-LevelAccountingFinancial Statements Analysis (Ratios)May/June 2011Paper 1 Q291 Mark
A company's sales are made evenly over a year (360 days). 10% of the sales are for cash, debtors total $26 700 and the trade receivables turnover period is 30 days. What are the total sales (cash and credit) for the year?
A$320 400
B$356 000
C$801 000
D$890 000
✓ 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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