Accounts - Principles of Accounts Questions
Question 1291:
A business marked up its cost by 50%. This would mean a gross profit of
- A 33\(\frac{1}{3}\)% on the cost price
- B 50% on the selling price
- C 66 \(\frac{2}{3}\)% on the selling price
- D 66\(\frac{2}{3}\)% on the market price
- E 33\(\frac{1}{3}\)% on the selling price
Question 1292:
Which of the following show s the stock at the start of an accounting period?
- A Appropriation account
- B Current assets in the balance sheet
- C Current liabilities in the balance sheet
- D Tradng account
- E Profit and loss account
Question 1293:
The balance in the purchases ledger control account is
- A Total purchases
- B Total sales
- C The total of the debtors
- D The total of the creditors
- E The total credit purchases
Question 1294:
Discount allowed would appear on the
- A Debit side of sales control account and the credit side of purchases control account
- B Debit side of sales ledger control account only
- C Debit side of purchases ledger control account
- D Credit side of the sales ledger control account
- E Credit-side of the purchases ledger control account
Question 1295:
The balance the provision for depreciation account is shown in the
- A Trial balance as a debit
- B Trial balance as a credit
- C Balance sheet as a fixed asset
- D Balance sheet as a long term liability
- E Balance sheet as a current liability