Accounting Multiple Choice Question – 17 July 2022

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

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The following errors in the accounting records have been found and corrected:

  1. a purchase invoice for £250 was omitted from the books of account
  2. a sale for £120 to X was debited to the account of Y
  3. the sales day book was over-added by £100

The gross profit for the year before correcting the errors was £60 200.

What is the correct gross profit for the year?

Select ONE answer:

  1. £59 850
  2. £59 970
  3. £60 350
  4. £60 550

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 1

  1. Correct = £60,200 – £250 – £100
  2. Not correct
  3. Not correct
  4. Not correct

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