A-LevelAccountingPreparation of financial statements9706/12 · May/June 2011 · Q301 Mark

A business sells goods at a mark up of 33.3%. Information for a year is given. $ revenue 600 000 opening inventory 53 000 closing inventory 68 000 What are the total purchases for the year?

A$415 000

B$435 000

C$450 000

D$465 000

✓ Correct answer

D: $465 000

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Topic: Preparation of financial statements, A-Level Accounting (syllabus 9706). Multiple choice, 1 mark.
Source: A-Level Accounting, May/June 2011 Paper 1 Variant 2, question 30.

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