JAMB Accounting 2007 Objective — Question 7

Question 7 of 46 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2007 Objective paper, with the correct answer and a full explanation.

Determine the closing stock.

A. #5,500Correct
B. #66,500
C. #2,500
D. #4,500

Explanation

Closing stock = Opening stock + Goods sent to branch - Sales = 2,000 + 8,000 - 4,500 = #5,500.

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