NECO Book Keeping 2015 Objective — Question 25
Question 25 of 40 from the National Examinations Council (NECO) Book Keeping 2015 Objective paper, with the correct answer and a full explanation.
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Use the following information (Total Creditors Control Account Extract) to answer this question and the next. Total Creditors Control Account Extract: Balance b/d = #28,400; Cash = #23,000; Purchases = #13,640; Discount received = #1,900; Returns = #900. The net purchases is
- A. #10,841
- B. #11,740
- C. #12,740Correct
- D. #13,640
Explanation
Net purchases = Purchases - Returns = 13,640 - 900 = #12,740.
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