What is the rate of stock turnover?

Adama’s opening stock is D5,000. He purchased goods worth D30,000. His closing stock was D7,000 and sales D55,000 A. 11 times B. 6 times C. 4.7 times D. 4 times Correct Answer: Option C C. 4.7 times Explanation How to calculate inventory turnover? Determine the...

What is the cost of goods sold?

Adama’s opening stock is D5,000. He purchased goods worth D30,000. His closing stock was D7,000 and sales D55,000 A. D55000 B. D42,000 C. D32,000 D. D28,000 Correct Answer: Option D D. D28,000 Explanation cost of goods sold.= opening stock + purchases –...

What is the average stock?

Adama’s opening stock is D5,000. He purchased goods worth D30,000. His closing stock was D7,000 and sales D55,000 A. D12,000 B. D7,000 C. D6,000 D. D5,000 Correct Answer: Option C C. D6,000 Explanation Average stock = opening stock + closing stock divided by 2...

Which of the following is not a factor of production?

A. capital B. labour C. exchange D. entrepreneurship Correct Answer: Option C C. exchange Explanation Land (which includes land itself as well as other natural resources and phenomena — water, forests, fossil fuels, weather, etc.), Labour (the human work necessary to...

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