Multiple Choice
A business has cash sales of £25 000. Inventory purchases on credit are £10,000. Payments to suppliers for inventory purchased on credit are £6 000. Cost of sales are £7 000. Wages paid are £2 000
-The profit effect of these transactions is:
A) £6 000
B) £10 000
C) £13 000
D) £16 000
Correct Answer:
Verified
Correct Answer:
Verified
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