10-14-2009, 04:45 PM
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by faisal_ali</i>
<br />1. The following information provided by a company.
Sales for the year $500,000
Puchases at cost $450,000
Closing stock, at selling price $50,000
there was no opening stock.
What was the gross profit for the year?
A $80,000
B $90,000
C $90,909
D $110,000
2. A company has creditors of $80,000 and the payment period is 30 days.
The company's budget for the comming year provides for an increase in creditors of 50% and the payment period taken will increase to 60 days. What will be the budgeted creditors' total at the end of next year?
A $120,000
B $160,000
C $240,000
D $320,000
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
Dear,
For first MCQ, see below, i.e. posted by faizicapri.
Answer of 2nd MCQ is C i.e. 240,000.
It may be calculated using various tactics, including the following.
((80,000 * 150%)/30)*60
Regards,
Faisal
<br />1. The following information provided by a company.
Sales for the year $500,000
Puchases at cost $450,000
Closing stock, at selling price $50,000
there was no opening stock.
What was the gross profit for the year?
A $80,000
B $90,000
C $90,909
D $110,000
2. A company has creditors of $80,000 and the payment period is 30 days.
The company's budget for the comming year provides for an increase in creditors of 50% and the payment period taken will increase to 60 days. What will be the budgeted creditors' total at the end of next year?
A $120,000
B $160,000
C $240,000
D $320,000
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
Dear,
For first MCQ, see below, i.e. posted by faizicapri.
Answer of 2nd MCQ is C i.e. 240,000.
It may be calculated using various tactics, including the following.
((80,000 * 150%)/30)*60
Regards,
Faisal
