O-LevelAccountingPreparation of financial statements7707/12 · Oct/Nov 2013 · Q231 Mark

A trader provided the following information. $ opening inventory 10000 closing inventory 14000 sales for year 60000 Goods are sold at a mark up of 25%. What were the purchases?

A$41000

B$44000

C$49.000

D$52000

✓ Correct answer

D: $52000

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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 2, question 23.

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