O-LevelAccountingPreparation of financial statements7707/11 · May/June 2017 · Q151 Mark

A business has two departments, X and Y. The total revenue was $120000 of which 60% related to department X. The total cost of sales was $90000 of which 50% related to department X. What was the gross profit of department Y?

A$3000

B$15000

C$18000

D$27000

✓ Correct answer

A: $3000

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Topic: Preparation of financial statements, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2017 Paper 1 Variant 1, question 15.

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