The 5% discount shown above indicates
Trade discount
Cash discount
Discount allowed
Discount received
Correct answer is A
A trade discount is the amount by which a manufacturer or wholesaler reduces the retail price of a product when it sells to a reseller, rather than to the end customer.
Given:
From the above information, the gross profit from department X is
N3,800
N2,300
N2,200
N2,000
Correct answer is C
Gross profit = sales - cost of goods sold
3000 - 800 = 2200
415,000 debit
215,000 credit
215,000 debit
315,000
Correct answer is C
Income = 210,000 + 80,000 + 60,000 = 350,000
Expenditure = 20,000 + 15,000 +40,000 10,000 + 50,000 = 135,000
350,000 - 135,000 = 215,000 Debit balance (income)
Calculate the cost of goods sold.
N61,000
N58,000
N62,000
N57,000
Correct answer is C
No explanation has been provided for this answer.
Find the average stock for the period
N27,000
N23,000
N28,000
N20,500
Correct answer is D
No explanation has been provided for this answer.
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