Accounting Multiple Choice Question – 4 January 2018

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

Woodpecker Ltd provided a list of its assets and liabilities as at 31 December 2016 as follows.

  • Long-Term Assets £300k
  • Inventory £85k
  • Accounts Receivables £40k
  • Bank Account £10k
  • Cash £5K
  • Accounts Payable £65k
  • Long-term Bank Loan £700k
  • Reserves £125k
  • Share Capital £100kRevenue £3,800k
  • Cost-of-Sales £2,400k
  • Net Profit Margin £300k
  • Purchases £1,200k

What is Woodpecker’s Net Margin Percentage?

Select ONE answer:

  1. 34.86
  2. 36.84
  3. 7.89
  4. 58.33
  5. 28.95

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

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

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

The answer is 3 – £300k / £3,800k * 100 = 7.89%

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Accounting Multiple Choice Question – 3 January 2018

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

Woodpecker Ltd provided a list of its assets and liabilities as at 31 December 2016 as follows.

  • Long-Term Assets £300k
  • Inventory £85k
  • Accounts Receivables £40k
  • Bank Account £10k
  • Cash £5K
  • Accounts Payable £65k
  • Long-term Bank Loan £700k
  • Reserves £125k
  • Share Capital £100kRevenue £3,800k
  • Cost-of-Sales £2,400k
  • Net Profit Margin £300k
  • Purchases £1,200k

 

What is Woodpecker’s Expenses in relation to revenue Percentage?

Select ONE answer:

  1. 34.86
  2. 36.84
  3. 7.89
  4. 58.33
  5. 28.95

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

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

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

The answer is 5 – £3,800k – £2,400k = £1,400k – £300k = £1,100k / £3,800k * 100 = 28.95%

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

Accounting Multiple Choice Question – 2 January 2018

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

Woodpecker Ltd provided a list of its assets and liabilities as at 31 December 2016 as follows.

  • Long-Term Assets £300k
  • Inventory £85k
  • Accounts Receivables £40k
  • Bank Account £10k
  • Cash £5K
  • Accounts Payable £65k
  • Long-term Bank Loan £700k
  • Reserves £125k
  • Share Capital £100kRevenue £3,800k
  • Cost-of-Sales £2,400k
  • Net Profit Margin £300k
  • Purchases £1,200k

What is Woodpecker’s Gross Profit Mark-up Percentage?

Select ONE answer:

  1. 34.86
  2. 36.84
  3. 7.89
  4. 58.33
  5. 12.87

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

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

The answer is 4 – £3,800 – £2,400k = £1,400k / £2,400k * 100 = 58.33%

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

Accounting Multiple Choice Question – 1 January 2018

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

Woodpecker Ltd provided a list of its assets and liabilities as at 31 December 2016 as follows.

  • Long-Term Assets £300k
  • Inventory £85k
  • Accounts Receivables £40k
  • Bank Account £10k
  • Cash £5K
  • Accounts Payable £65k
  • Long-term Bank Loan £700k
  • Reserves £125k
  • Share Capital £100kRevenue £3,800k
  • Cost-of-Sales £2,400k
  • Net Profit Margin £300k
  • Purchases £1,200k

What is Woodpecker’s Gross Profit Margin Percentage?

Select ONE answer:

  1. 34.86
  2. 36.84
  3. 7.89
  4. 58.33
  5. 12.87

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

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

The answer is 2 – £3,800k – £2,400k = £1,400k / £3,800k * 100 = 36.84%

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Economics Multiple Choice Question – 21 December 2017

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

A 2% cut in price leads to a 6% increase in sales.

What is the price elasticity of demand?

Select ONE answer:

  1. +3
  2. +0.333
  3. -3
  4. -0.333
  5. 30

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

This is multiple choice question is suitable for Economics KS5 classes.

The answer is 3 – The formula for calculating the price elasticity of demand is: Price Elasticity of Demand = % Change in Quantity Demanded / % Change in Price. If PED > 1, then demand responds more than proportionately to a change in price i.e. demand is elastic. For example, if a 10% increase in the price of a good leads to a 30% drop in demand. The price elasticity of demand for this price change is –3. In this example PED is equal to +6% / – 2% or -3

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