O-LevelAccountingAnalysis and interpretation7707/12 · May/June 2024 · Q331 Mark

Miranda's gross margin fell from 25% in year 1 to 15% in year 2. What may have caused this?

AMiranda paid less for her purchases in year 2.

BMiranda purchased fewer goods in year 2.

CMiranda reduced her selling prices in year 2.

DMiranda sold fewer goods in year 2.

✓ Correct answer

C: Miranda reduced her selling prices in year 2.

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Topic: Analysis and interpretation, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2024 Paper 1 Variant 2, question 33.

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