Waec Model Questions Vol1 2024 Financial Accounting Question 16
Practice objective / multiple choice question 16 from the 2024 Waec Model Questions Vol1 Financial Accounting examination.
A trading business prepared an incomplete trial balance for the year ended 31 December. The following figures (in ₦) are known: Sales = 560,000; Opening stock = 80,000; Closing stock = 70,000; Carriage‑inwards = 12,000; Salaries = 45,000; Rent = 18,000; Net profit = 55,000. The purchases amount is missing. Determine the value of purchases.
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This is Waec Model Questions Vol1 2024 Financial Accounting Question 16. It is one of the objective questions from the 2024 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Hard .
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