A-LevelAccountingAnalysis and communication of accounting information9706/12 · Feb/Mar 2017 · Q121 Mark

A trader provides the following financial information for the year ended 31 December. Gross margin 20%; cost of goods sold $220000; drawings $7000; profit for the year $28000. How much are expenses?

A$9000

B$16000

C$20000

D$27000

✓ Correct answer

D: $27000

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Topic: Analysis and communication of accounting information, A-Level Accounting (syllabus 9706). Multiple choice, 1 mark.
Source: A-Level Accounting, Feb/Mar 2017 Paper 1 Variant 2, question 12.

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