O level south west regional mock gce 2022 accounting 1
O level south west regional mock gce 2022 accounting 1
On December 31st, if net income equals
150,000 CFAF and the ending capital is
200,000 CFAF and FORBAH invested an
additional 26,000 CFAF in his business,
while withdrawing 60,000 CFAF during
the year for personal use, the beginning
ovyner’s equity for this year was:
A 316,000 CFAF
B 220,000 CFAF
C 84,000 CFAF
D 73,500 CFAF
6. The following items represent the assets
and liabilities of AMALO Enterprise as at
01/02/2014: Land 1,500,000 CFAF,
Building 1,200,000 CFAF, Long Term
loan 1,700,000 CFAF, stock 500,000
CFAF, suppliers 100,000 CFAF,
customers 350,000 CFAF. The capital is:
A 1,570,000 CFAF
B 1,075,000 CFAF
C 1,750,000 CFAF
D 1,507,000 CFAF
2. An enterprise invoice goods to its
customers for 850,000 CFAF. Rebate
10%, trade discount 5% and cash discount
2%, Net payable is:
A 765,000 CFAF
B 763,100 CFAF
C 726,750 CFAF
D 712,215 CFAF
7. When recoverable and Non-identifiable
packages are damaged in the warehouse, the
accounting entry is
A Dr 831 and Cr 6081
B Dr 6033 and Cr 3351
C Dr 6033 and Cr 3352 .
D Dr 831 and Cr 6082
8. Which inventory costing method matches
recent costs with recent revenues?
A Specific identification
B Average cost.
C First-in, first-out (FIFO)
D Last-in, first-out (LIFO).
3. The ability of a business to pay its short
term creditors can be measured by means
of:
A Current ratio
B Acid test ratio
C Gross profit ratio
D Net profit ratio
Erik
July 8, 2022
Good work
Erik
July 8, 2022
Yes
Stephanie
July 20, 2022
The app is good but why are the leaving the commercial subjects and their solutions out
Mimie bell
March 16, 2023
Wow this is cool