A-LevelAccountingFinancial Statements and RatiosMay/June 2023Paper 1 Q141 Mark
A business has a gross profit margin of 25%. The following information is available for the year. $ sales revenue 200 000 opening inventory 10000 closing inventory 5000 What were the purchases for the year?
A$135000
B$145000
C$155000
D$165000
✓ Correct Answer
The correct answer is B. This question tests the candidate's understanding of financial statements and 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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