Business Studies Questions
Question 86:
The gross profit of a business is calculated as ____________
- A Opening stock + total purchases.
- B Total expenses - total income.
- C Total expenses + total income.
- D Total purchases - closing stock.
- E Total sales - cost of goods sold.
Question 87:
A statement that shows the assets and liabilities of a business on a specific date is ____________
- A Balance sheet.
- B Bank statement.
- C Cash book.
- D Journal book.
- E Trading account.
Question 88:
The amount received by a buyer for prompt settlement of account is ____________
- A Bonus.
- B Commission.
- C Discount.
- D Loan.
- E Surplus.
Question 90:
Purchases 5,000 Sales 6,000 Wages 1,000 What is the total of the trial balance?
- A N5,000
- B N6,000
- C N7,000
- D N11,000
- E N12,000