WAEC Accounting 2022 Objective — Question 26
Question 26 of 50 from the West African Examinations Council (WAEC) Accounting 2022 Objective paper, with the correct answer and a full explanation.
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Stock turnover ratio is
- A. 4 times
- B. 3.78 times
- C. 3.56 timesCorrect
- D. 3.2 times
Explanation
Stock turnover = Cost of goods sold ÷ Average stock = 160,000 ÷ [(40,000+50,000)/2] = 160,000 ÷ 45,000 = 3.56 times.
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