From the following information regarding the year to 31 August 20X6, what is the accounts payable payment period? You
should calculate the ratio using purchases as the denominator.
$
Sales 43,000
Cost of sales 32,500
Opening inventory 6,000
Closing inventory 3,800
Trade accounts payable at 31 August 20X6 4,750
Purchases = $(32,500 - 6,000 + 3,800)
=$30,300
多做几道
Which accounting concept should be considered if the owner of a business takes goods from inventory for his own personal
use?
Which accounting concept should be considered if the owner of a business takes goods from inventory for his own personal
use?
According to the IASB's Conceptual Framework for Financial Reporting, which TWO of the following are part of faithful
representation?1 It is neutral2 It is relevant3 It is presented fairly4 It is free from material error
Which of the following accounting concepts means that similar items should receive a similar accounting treatment?
Listed below are some characteristics of financial information.1 Relevance2 Consistency3 Faithful representation4 Accuracy
Which of these are qualitative characteristics of financial information according to the IASB's Conceptual Framework for
Financial Reporting?
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