Accounting Multiple Choice Question – 7 September 2020

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

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Which statement below is correct?

Select ONE answer:

  1. cost of goods sold – gross profit – sales returns = revenue
  2. cost of goods sold – gross profit + sales returns = revenue
  3. cost of goods sold + gross profit – sales returns = revenue
  4. cost of goods sold + gross profit + sales returns = revenue

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 4

  1. Not correct
  2. Not correct
  3. Not correct
  4. Correct

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