FOR QUESTIONS 9 TO 11, REFER TO THE FOLLOWING INFORMATION:

Van Schaik Bookstore supplies

textbooks to college and university bookstores. The books are supplied with a

provision that they must be paid for within 30 days. In 2023, Van Schaik

bookstore supplied and billed books totalling R760 000. Collections, net of

return credits, during the year totalled R690 000. The company spent R300 000

acquiring the books that it supplied.

QUESTION 9

Using the accrual accounting

value (accrual principles), the company’s net profit for the past year

equals... .

a.    R390 000

b.    R460

000

c.     R480

000

d.    R490

000