Professional Documents
Culture Documents
CSEC Review-MCQ Questions 2024-Answer Sheet-3
CSEC Review-MCQ Questions 2024-Answer Sheet-3
CSEC Review-MCQ Questions 2024-Answer Sheet-3
sales 900
Opening inventory 200
+Purchases 500
------
=avalialble 700
-Closing stock (300)
-------
=Cost of goods sold 400
or cost of
Gross profit: 900 -400=$500
26) CA - CL = WC
25,000 - 5,000 20,000
if:
-2000 stock
+2,000 debtors
P & L 200
Prov. For doubtful 200
39. If your sales budget shows that you sold 10,000 units of Christmas lights last November and
you ran out at your warehouse, what does that tell you about customer expectations?
a.) You should repackage the Christmas lights as 'Winter Wonderland' lights in January so more
people will buy them then.
b.) You need to make more Christmas lights for this year, because your customers bought them
all.
c.) No one likes your Christmas lights.
d.) You should diversify into lawn ornaments.
42. Which of the following budgets would not form part of the master budget?
44. Calculate the production budget from the following data: sales 89,350 units; opening
inventory 23,864 units; closing inventory 33,156 units.
47. Accounting Information System (AIS) are interrelated components which acts together to
achieve a common goal. These components are used to achieve each of the following goals
EXCEPT
a. Collect financial data
b. Process financial data
c. Delete online financial data
d. Store financial data
48. Which of the following users rely on adequate collection and storage of data of the
company’s accounting information system for decision making purposes for the company?
a.) Investors
b.) Government
c.) Competitors
d.) Management