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FAC1502-25-EX06B
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Indicate by choosing the correct option whether the following statement is true or false:
Single-entry systems, that is incomplete records, are sometimes used by small businesses, because they know very little about basic bookkeeping principles.
Use the information provided below to calculate the cost of sales:
|
R
|
Opening inventory
|
50 000
|
Purchases
|
60 000
|
Settlement discount granted
|
9 000
|
Import duties
|
4 000
|
Closing inventory
|
20 000
|
Instructions:
1. Use a full stop to indicate any decimals
2. Round off to the
3. Only show the amount,
do not show the R(eg:
12141.72)