WAEC Accounting 2017 Objective — Question 40
Question 40 of 50 from the West African Examinations Council (WAEC) Accounting 2017 Objective paper, with the correct answer and a full explanation.
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40. What is the rate of stock turnover? (using the data in Q39)
- A. A. 7 times
- B. B. 6 times
- C. C. 5 times
- D. D. 4 timesCorrect
Explanation
Average stock = (N2,300+N3,600)/2 = N2,950. Rate of stock turnover = N11,500/N2,950 = 3.90 times ≈ 4 times.
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