Gce Model Questions Vol1 2023 Financial Accounting Question 2
Practice objective / multiple choice question 2 from the 2023 Gce Model Questions Vol1 Financial Accounting examination.
A company's trial figures for the year are as follows:\n\n- Opening stock: \(30,000\)\n- Purchases: \(120,000\)\n- Closing stock recorded on the trial balance: \(25,000\)\n- Physical count shows actual closing stock of \(22,000\) (indicating shrinkage).\n- Sales: \(200,000\)\n- Operating expenses: \(40,000\)\n- Depreciation on plant: \(10,000\)\n- Tax rate: 30% on profit before tax.\n\nUsing the above information, calculate the net profit after tax for the year.
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This is Gce Model Questions Vol1 2023 Financial Accounting Question 2. It is one of the objective questions from the 2023 Gce Model Questions Vol1 Financial Accounting examination.
Difficulty level: Hard .
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