Section B: Financial Accounting Practice
Question 9
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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.