Accounting Multiple Choice Question – 17 July 2022

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

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