Find the cost of goods sold if goods are sold for 2,000 at 25% profit on cost?

Related Mcqs:

Credit note is the basis for recording a transaction in which of the following SPECIALIZED journals?

A. Purchase journal B. Sales return journal C. General journal D. Cash receipt journal...

Goods returned by customer should be debited to which of the following accounts?

A. Sales income account B. Sales account C. Return inward account D. Expenses account...

Which of the following errors affects the agreement of a Trial Balance?

A. Mistake in balancing an account B. Omitting to record a transaction entirely in the subsidiary books C. Recording of a wrong entry in the subsidiary books D. Posting an entry on the correct side but in the wrong account...

Which of these errors affect only one account?

A. Errors of casting B. Errors of carry forward C. Errors of posting D. All the three...

Based on which of the following concepts, is Share Capital Account shown on the liabilities side of a Balance Sheet?

A. Business entity concept B. Money measurement concept C. Going concern concept D. Matching concept...