Gce Model Questions Vol1 2024 Financial Accounting Question 33
Practice objective / multiple choice question 33 from the 2024 Gce Model Questions Vol1 Financial Accounting examination.
The trial balance of a sole trader shows: Sales £150{,}000; Opening stock £20{,}000; Closing stock £25{,}000; Recorded expenses £30{,}000; Net profit £18{,}000. The gross profit rate is known to be 40 % of sales. It is suspected that an expense has not been recorded. Determine (a) the amount of purchases for the year and (b) the amount of the unrecorded expense.
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About This Question
This is Gce Model Questions Vol1 2024 Financial Accounting Question 33. It is one of the objective questions from the 2024 Gce Model Questions Vol1 Financial Accounting examination.
Difficulty level: Hard .
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