NABTEB Book Keeping 2015 Objective — Question 32
Question 32 of 40 from the National Business and Technical Examinations Board (NABTEB) Book Keeping 2015 Objective paper, with the correct answer and a full explanation.
Advertisement
Use the following information to answer this question and the next two. Table: Opening stock = #50,000; Sales = #100,000; Purchases = #65,000; Expenses = #35,000; Closing stock = #75,000. The cost of goods sold is
- A. #25,000
- B. #40,000Correct
- C. #60,000
- D. #115,000
Explanation
Cost of goods sold = Opening stock + Purchases - Closing stock = 50,000 + 65,000 - 75,000 = #40,000.
Advertisement
Sign up free to unlock
- Score tracking
- Practice history
- Saved questions
- Progress dashboard
- Personalized sessions
- Weak-topic breakdown
…and/or go further with premium services and No Ads.