O-LevelAccountingAnalysis and interpretation7707/11 · May/June 2013 · Q281 Mark

A business provided the following information for the year. profit for year: $24 000 expenses: $16 000 gross profit/sales percentage: 20% What were the sales for the year?

A$120 000

B$160 000

C$200 000

D$240 000

✓ Correct answer

C: $200 000

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Topic: Analysis and interpretation, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2013 Paper 1 Variant 1, question 28.

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