A-LevelAccountingInterpretation of Financial StatementsMay/June 2012Paper 1 Q201 Mark
A business turns over its inventory 5 times a year. Average inventory is $54 000 and sales are made at a mark-up of one-third. How much are the sales?
A$202 500
B$270 000
C$360 000
D$405 000
✓ Correct Answer
The correct answer is C. This question tests the candidate's understanding of interpretation of financial statements 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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