[anitha89]

hi.. thanks so much for taking ur time to identify the qns.. would like to know the ans for this 2qns if u still remember them..

10. informal organization and formal organisation co-exist aloneside, under what circumstances this relation hindered?
• tall organisation
• flat organisation
• organisation in transition

17. Which member(s) of the committee should sign the minutes at a committee meeting to confirm it’s the true and accurate record.
• Chairman
• Any 2 members
• Secretary

thanks..

[anitha89]

hi rebeccaneiw..
tat’s a qn i din tink of.. but i guess we always round it up to whole numbers unless otherwise stated.. 🙂
i have a similar qn.. wad happens if we are expected to answer a theory qn widout any instructions..
As in the answer is Greater.. but I have answered it has higher..
thx..

[anitha89]

thanks.. but are the MCQs theortical or is it a mixture of calculations and theortical?

[anitha89]

are the qns the same?
if they aren’t the same, which is easier?

[anitha89]

i dun tink i understand.. why do you -1500? i thought its +1500??

[anitha89]

many thanks guys.. :)..

[anitha89]

thank you so much.. appreciate ur help.. :)..

[anitha89]

No, i dun have the answers wid me.. I did the working on a rough paper..
Anyways, i tink I misinterpreted the qn 5.. my ans is C; not A..

[anitha89]

i tink C as that’s the only expense (assets n expenses normally has a Dr balance)..
a) usually has a Cr balance
b) Sales has Cr balance as well
d) is either a long-term liablilty or current liability. Hence, a Cr balance.
Correct me if i’m wrong..

[anitha89]

hi.. if i’m not wrong the ans s/d be C) 20,000.. (correct me if i’m wrong)
there are 2 ways to solve: 1) trial n error OR 2) you work backwards..
however, trial n error will be time consuming..
to solve this qn, you need to understand your trading (i.e. Statement of Comprehensive Income)..
Sales – Sales Returns = Net Sales ( 300,000 – 3,000 = 297,000)
Purchases – Purchases Returns = Net Purchases (276,000 – 5,000 = 271,000)
Net Purchases – Closing Stock = Cost of Goods Sold (271,000 – 24,000 = 247,000)
Since you know ur Gross Profit, take your Cost of Goods Sold + Gross Profit (247,000 + 30,000 = 277,000)..
Last Step: Take your Net Sales – 277,000 = 297,000 – 277,000 = 20,000 (final answer)..
u can double check using the trading income statement.. :)..

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