Subsidiary books of account are used to record transactions
made in the same period
of a similar nature
involving minor amounts
without source documents
Correct answer is D
No explanation has been provided for this answer.
All cash transactions of a not-for-profit making organization are recorded in
three-column cash book
income and expenditure account
subscriptions account
receipts and payments account
Correct answer is B
No explanation has been provided for this answer.
Use the following information to answer this question
Gross profit 50,400
Discounts relieved 3,300
Discounts allowed 2,500
Net profit 26,500
Cost of goods sold 184,000
Other operating expenses for the period is
GH¢27,300
GH¢25,700
GH¢24,700
GH¢23,900
Correct answer is C
No explanation has been provided for this answer.
Use the following information to answer this question
Gross profit 50,400
Discounts relieved 3,300
Discounts allowed 2,500
Net profit 26,500
Cost of goods sold 184,000
GH¢234,400
GH¢210,500
GH¢133,600
GH¢76,900
Correct answer is A
No explanation has been provided for this answer.
A business includes 50% mark-up on all its products. This would mean margin of
66 2/3%
66 1/3%
33 2/3%
33 1/3%
Correct answer is D
No explanation has been provided for this answer.