Accounting Multiple Choice Question – 4 November 2021

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

Accounting
apple devices books business coffee
Photo by Serpstat on Pexels.com

A company sells goods on sale or return at a mark up of 25 %.

At the Balance Sheet date the following information is available:

•goods in warehouse £300,000 (cost)

•goods sent on sale or return £200,000 (at invoice price)

What will be the value of closing stock in the company accounts?

Select ONE answer:

  1. £300,000
  2. £450,000
  3. £460,000
  4. £500,000

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 3

  1. Not correct
  2. Not correct
  3. Correct ==> £200k / 1.25 + £300K
  4. Not correct

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.

Author: stuart001uk2014

Referral marketing, business, economics and accounting s​pecialist & corporate mentor

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: