Question 1: a) Out of 2,000 students in a school, 500 are opted basketball, 1,000 are opted football and remaining are opted table tennis. If a student can opt only one game, find the ratio of (i) Number of students who opted basketball to the number of students who opted table tennis. (ii) Number of students who opted football to the number of students who opted basketball. (iii) Number of students who opted table tennis to the number of students who opted football. (iv) Number of students who opted basketball to the total number of students. (v) Number of students who opted football to the total number of students. (5 marks) b) Income of Amal is RO 17,500 per month and that of Ali is RO 190,000 per year. Whereas the monthly expenditure of Amal and Ali is RO 3,500 and RO 5,500 respectively. Find the ratio of their savings. Question 2: a) Ibri Company pays Ali two weeks once, 1st week he worked 45 hours including 6 hours overtime, 2nd week he worked 39 regular hours and 6 hours overtime and he earns RO 5.250 per hour with time-and-half for overtime. Calculate Ali's gross pay for the two weeks? (6 marks) b) An invoice for RO 1,000 and dated June 25th with the terms 3/15, EOM is received. The bill is paid on July 12th. Calculate the amount paid. (2 marks) c) An invoice of RO 3,000 with the terms 2/20, n/30, ROG is dated on August 20th. The goods are received on August 25th and the bill is paid on September 10th. Calculate the amount paid. (2 marks) Question 3: a) VAT is not just sales tax, discuss how does it work? Explain with suitable example. (4 marks) (Suggested: 80 - 100 words) b) A retailer sells a product whose listed price is RO 5,000 and charges VAT (Value Added Tax) on it at the prescribed rate of 15% from the customer. If the retailer pays a VAT of RO 75 to the government, what was the price inclusive of tax at which the retailer bought the article from the wholesaler? If the wholesaler pays a VAT of RO 50 to the government, what was the price inclusive of tax at which the wholesaler bought the article from the manufacturer? How much does the government received as VAT? (6 marks) Question 4: a) Ibri rent a car Company bought a car that costs RO 15,000 with an estimated salvage value of RO 500 and the expected useful 10 years. Depreciation charged by using SLM (Straight line method). At the end of the 10th year the books of accounts showing accumulated depreciation RO 14,500. What does the amount accumulated depreciation represent? Does this balance represent cash that can be used to replace the car when it is completely depreciated? Yes or no, justify your answer. (4 marks) (Suggested: 80 - 100 words) b) Machinery is bought for RO 20,000 with an estimated useful life of 4 years. The expected scrap value at the end of its useful life is RO 2,000. Calculate the WDV Rate (Written Down Value method) and Prepare the Depreciation Schedule for 4 years. (6 marks) Question 5: a) Ali owned a stationery shop and earns RO 96,000 per year. At this rate, in 8 months how much he will earn? How many months are required to earn RO 56,000 for Ali? (2 marks) b) Ahmed purchases 60 tons of wood costs RO 120,000. Find the cost of 640kg (kilogram) of wood. (2 marks) c) Ali has 48 chocolates and Ahmed has 360 flowers and they share these among themselves. Ali gave 24 chocolates to Ahmed and Ahmed gave 180 flowers to Ali. But Ahmed was not satisfied and felt that he had given more flowers to Ali than the chocolates given by Ali to him. Do you think Ahmed is correct? Yes or no, justify your answer. (6 marks) (Suggested: 100 - 150 words)