[单选题]23 The capital structure of a company at 30 June 2005 is as follows:

$m Ordinary share capital 100 Share premium account 40 Retained earnings 60 10% Loan notes 40 The company’s income statement for the year ended 30 June 2005 showed: $m Operating profit 44 Loan note interest (4) ___ Profit for year 40 ____ What is the company’s return on capital employed?

正确答案 ：C

44/240 = 181/3 per cent

[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?

正确答案 ：D

$1,008,000

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