Other questions in this quiz

2. [Final Subheading] Depreciation expense:

  • (percentage x price)
  • Equipment (percentage x price); Vans (percentage x price);Loan & Bank interest (percentage x price)
  • Equipment & Vans (percentage x price); Loan & Bank interest (percentage x price)

3. Advising how amount charged for loan and bank interest could be reduced

  • Arrange loan instead of over draft; incerase sales; reduce drawings; new loan or O/D at lower rate
  • Increases cost of sales; decreases gross & net profit:reduces assets in balance sheet

4. Bad debts included

  • Yes after accruals
  • Yes after Depreciation expense
  • No
  • Yes after Less Cost of sales

5. Second Heading no figure; followed by....

  • Sales; Less: Cost of sales; Opening Inventory; Trade recievables; Less: Closing inventory
  • Less: Cost of sales; Opening Inventory; Add purchases; Less: Closing inventory; Gross profit
  • Sales; Less: Cost of sales; Add purchases; Less: Closing inventory

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