Financial Accounting Nov/Dec 2015

Section B:  Financial Accounting Practice

Question 9

 

  1. This question required candidates to calculate the following:

    (a) Acid Test Ratio;
    (b) Owners Equity;
    (c) Gross Profit Percentage;
    (d) Rate of Stock Turnover;
    (e) Current Ratios.

 

Observation

Majority of the candidates that attempted this question performed well but few of them did not understand the calculation of Owner’s Equity.