1. [单选题]15 A trader who fixes her prices by adding 50% to cost actually achieved a mark-up of 45%.
Which of the following factors could account for the shortfall? 1 Sales were lower than expected. 2 The opening inventories had been overstated. 3 The closing inventories of the business were higher than the opening inventories. 4 Goods taken from inventories by the proprietor were recorded by debiting drawings and crediting purchases with the cost of the goods.
A. All four factors
B. 1, 2 and 4 only
C. 2 only
D. 3 and 4 only
2. [单选题]11 The following information is available for Orset, a sole trader who does not keep full accounting records:
$ Inventory 1 July 2004 138,600 30 June 2005 149,100 Purchases for year ended 30 June 2005 716,100 Orset makes a standard gross profit of 30 per cent on sales. Based on these figures, what is Orset’s sales figure for the year ended 30 June 2005?
A. $2,352,000
B. $1,038,000
C. $917,280
D. $1,008,000
3. [单选题]Is the following statement true or false?
B. True
C. False
