Accounting 9706 · AS & A Level · The accounting system

The accounting system — practice question

The following details are given for a business. Items are sold at cost plus 25%. The owner has taken some items for personal use, but these have not been entered as drawings. What is the value of the items taken for personal use?

  • A$5500
  • B$10500
  • C$12500
  • D$17500

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