Question 39

Opening stock 12,000, Sales 30,000, Closing Stock 25,000 and purchases of stock 37,500. What is the gross profit/loss?

A 5,500 profit

B 24,500 loss

C 8,000 loss

D 18,000 profit

Question 40

Finance for an enterprise is

A Providing financial resources to set up and run a business

B Selling goods or services on credit

C Spending money on inventory

D All answers are correct