JSS3 – Business Studies: 2nd Term – Evaluation Questions | Week 9

The trading account is prepared to ascertain ___________

A business gross profit can be determined in the _________

Opening stock plus purchases gives __________

Gross profit is the excess of sales over ___________

Which of the following stands for opening stock for the year ended 31st December 2010?

Identify closing stock for year ended 30th June, 2010

Sales can also be called?

Which of the following is a correct heading for the trading account?

Cost of goods available for sales minus closing stock is called _________

A businessman’s profit can be determined in two ways, these are ________