Accounting Quiz or Test Your Knowledge On The Cost of Goods Sold, Accruals and Prepayments

July 21st, 2010 Comments off
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Refresh or test your accounting knowledge on Cost of goods sold,accruals and prepayments:


1.0  Give the formula for calculating the cost of goods sold?

2.0  How is the cost of carriage inwards treated for accounting purposes?

3.0  How is a reduction in stock value treated for accounting purpose?

4.0  Define accruals and prepayments

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