O-LevelAccountingAnalysis and interpretation7707/11 · Oct/Nov 2012 · Q281 Mark

Wang provided the following information. revenue $32 000 cost of sales $20 000 opening inventory $7 000 closing inventory $5 000 What was the rate of inventory turnover?

A1.67 times

B2.67 times

C3.33 times

D5.33 times

✓ Correct answer

C: 3.33 times

Oracle Prep sorts past-paper questions by topic, so you can drill Analysis and interpretation and see which topics are most likely to come up next.

Topic: Analysis and interpretation, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2012 Paper 1 Variant 1, question 28.

Questions and mark schemes are from past examination papers and remain the copyright of the exam board. How Oracle Prep builds its content

Mary is in business buying and selling goods on credit. The following information was available at 30 April 2011. In…

A business had the following assets and liabilities. $ inventory 11 000 trade receivables 39 000 bank overdraft 8 000…

A trader provided the following information. $ $ revenue 60 000 opening inventory 15 000 purchases 30 000 45 000 clos…

Harry's income statement showed a loss for the year of $2040. It was later discovered that motor expenses, $480, had …

A machine cost $30 000. It had an estimated life of six years. Using the reducing (diminishing) balance method of dep…

How is the loss on the sale of a non-current asset recorded?