A-LevelAccountingPreparation of financial statements9706/12 · May/June 2012 · Q131 Mark

A business sells goods at cost plus 25%. Information for a year is shown. $ revenue 240 000 opening inventory 42 000 closing inventory 48 000 What is the total of purchases for the year?

A$180 000

B$186 000

C$192 000

D$198 000

✓ Correct answer

D: $198 000

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Topic: Preparation of financial statements, A-Level Accounting (syllabus 9706). Multiple choice, 1 mark.
Source: A-Level Accounting, May/June 2012 Paper 1 Variant 2, question 13.

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