O-LevelAccountingPreparation of financial statements7707/11 · Oct/Nov 2013 · Q251 Mark

A trader's sales were $300000. The mark-up was 25%. What was the cost of sales?

A$60000

B$75000

C$225000

D$240000

✓ Correct answer

D: $240000

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Topic: Preparation of financial statements, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2013 Paper 1 Variant 1, question 25.

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