Gce Model Questions Vol1 2019 Financial Accounting Question 43
Practice objective / multiple choice question 43 from the 2019 Gce Model Questions Vol1 Financial Accounting examination.
For the year ended 31 March, a sole trader provided the following information:\n- Sales: £\(150,000\)\n- Opening stock: £\(30,000\)\n- Closing stock: £\(28,000\)\n- Gross profit rate: 25 % of sales\n- Operating expenses: rent £\(10,000\), salaries £\(15,000\), other expenses (unknown)\n- Tax is charged at 20 % on profit before tax\n- Net profit after tax: £\(8,000\)\nUsing the gross‑profit method, determine the amount of the other operating expenses.
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About This Question
This is Gce Model Questions Vol1 2019 Financial Accounting Question 43. It is one of the objective questions from the 2019 Gce Model Questions Vol1 Financial Accounting examination.
Difficulty level: Hard .
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