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  1. Saad Ghori

    Economics, Accounting & Business: Post your doubts here!

    Oh :( Should've read the question with concentration. Well its just a mark so no worries :) Tell me about it :D
  2. Saad Ghori

    Economics, Accounting & Business: Post your doubts here!

    Well if it makes you feel better he's wrong about 1,6 and 28. Tho he is right about the partnership question.
  3. Saad Ghori

    Economics, Accounting & Business: Post your doubts here!

    The fact that you got so many questions wrong and yet your so confident makes me laugh :p
  4. Saad Ghori

    Economics, Accounting & Business: Post your doubts here!

    It asked for the change in value, so it'd be $1500 :p That is $4000-$2500.
  5. Saad Ghori

    Yeah they're a part of the expenditure switching policy. Plus devaluation is also an expenditure...

    Yeah they're a part of the expenditure switching policy. Plus devaluation is also an expenditure switching policy.
  6. Saad Ghori

    Economics, Accounting & Business: Post your doubts here!

    Yes cos you have to close the suspense account.
  7. Saad Ghori

    Economics, Accounting & Business: Post your doubts here!

    Stock is valued in the balance sheet at lower of cost or net realisable value. The latter is calculated by deducting the the repairs that have to be undertaken from the price that it could be sold at. That is it would be, 2200-400=1800 This is lower than the cost so the answer would be A.
  8. Saad Ghori

    Economics, Accounting & Business: Post your doubts here!

    There wasn't any problem is the sales ledger control a/c. The trial balance would be rectified not the sales ledger control a/c. If you do, the sales ledger control a/c would then be overstated by 9k!
  9. Saad Ghori

    Economics, Accounting & Business: Post your doubts here!

    The entry of the suspense a/c is made on the side which is less than the other. Sales ledger control a/c is a debtors account, and as it was understated the debit side was less than the credit side. Thus the opening balance in suspense a/c was on the debit side :D
  10. Saad Ghori

    Economics, Accounting & Business: Post your doubts here!

    The error has been made in bringing the amount of sales ledger a/c to the trial balance. There isn't any error in the sales ledger a/c itself, but the problem only lies in the trial balance. So the only adjustment that is to be made is in the suspense a/c as it is required to be cleared. The...
  11. Saad Ghori

    Economics, Accounting & Business: Post your doubts here!

    Xtremepapers does have the examiner report for nov 2002. You can find the answers to mcqs in it :)
  12. Saad Ghori

    Can't open the link :s

    Can't open the link :s
  13. Saad Ghori

    Hello....guys.....accounting mcq paper....lets discuss our doubts:)

    Subtract the interest on loan stock from the operating profit. That'll leave you with profit after interest of $200000. Divide this by the shareholder fund of $600000 (shareholder fund is made up of share capital and reserves) and then multiply it by 100. You'll get the answer B :)
  14. Saad Ghori

    Hello....guys.....accounting mcq paper....lets discuss our doubts:)

    Provision for Doubtful debts.
  15. Saad Ghori

    Economics P12 june 2012 ANSWERS...!!!

    Exactly :D
  16. Saad Ghori

    Economics P12 june 2012 ANSWERS...!!!

    Yeah :D
  17. Saad Ghori

    Economics P12 june 2012 ANSWERS...!!!

    Not everywhere, there are still many shops which do not accept them. Plus what if you have reached the limit on your credit card? So it can't be termed as money if we make an assumption that money should ALWAYS be acceptable to pay for goods and services.
  18. Saad Ghori

    Economics P12 june 2012 ANSWERS...!!!

    Only cash. I think the option was C. The answer was D. All 3 of them were getting a consumer surplus of $4.
  19. Saad Ghori

    Economics, Accounting & Business: Post your doubts here!

    It says that the fixed overheads have increased, but the amount available to pay them haven't. The limiting factor here is amount available to pay overheads. So you need to calculate the contribution per unit/variable overhead per unit for the ranking of the products. You will not take the fixed...
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