Invoice – NBC Institute

FA – May 2013 – L1 – SA – Q18 – Recording Financial Transactions

This question asks for the cost of goods invoiced at a mark-up.

Question

If goods were invoiced by the Head Office to a branch for N86,400 at cost plus a 25% mark-up, what was the cost of the goods?

A. N64,800
B. N69,120
C. N86,400
D. N103,680
E. N108,000

Answer

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Tags: Cost of Goods, Financial Reporting, Invoice
Level: Level 1

Topic: Recording Financial Transactions
Series: MAY 2013

BL – Nov 2019 – L1 – SA – Q1 – Sale of Goods

Identifying the document a supplier sends to correct an understated invoice

Question

Which of the following documents will a supplier send to a customer whose invoice was understated?
A. Pro-forma invoice
B. Debit note
C. Credit note
D. Statement of account
E. Cheque stub

Answer

Find Related Questions by Tags, levels, etc.

Tags: Customer, Documents, Invoice, Supplier
Level: Level 1

Topic: Sale of Goods
Series: NOV 2019

FA – Mar/July 2020 – L1 – SA – Q10 – Recording Financial Transactions (Including Source Documents, Books of Prime Entry, and Cash Books)

Calculating the net amount payable after discounts

Question

Emeka sold 30 units of handsets with a list price of N4,000 per unit to Oluti. He gave Oluti 10% quantity discount and 5% early settlement discount.

If Oluti paid within 30 days payment window, what will be the net amount of the invoice payable by Oluti on the transaction?
A. N120,000
B. N108,000
C. N105,600
D. N102,600
E. N102,000

Answer

Find Related Questions by Tags, levels, etc.

Tags: Calculation, Discount, Early Settlement, Invoice
Level: Level 1

FA – May 2013 – L1 – SA – Q18 – Recording Financial Transactions

This question asks for the cost of goods invoiced at a mark-up.

Question

If goods were invoiced by the Head Office to a branch for N86,400 at cost plus a 25% mark-up, what was the cost of the goods?

A. N64,800
B. N69,120
C. N86,400
D. N103,680
E. N108,000

Answer

Find Related Questions by Tags, levels, etc.

Tags: Cost of Goods, Financial Reporting, Invoice
Level: Level 1

Topic: Recording Financial Transactions
Series: MAY 2013

BL – Nov 2019 – L1 – SA – Q1 – Sale of Goods

Identifying the document a supplier sends to correct an understated invoice

Question

Which of the following documents will a supplier send to a customer whose invoice was understated?
A. Pro-forma invoice
B. Debit note
C. Credit note
D. Statement of account
E. Cheque stub

Answer

Find Related Questions by Tags, levels, etc.

Tags: Customer, Documents, Invoice, Supplier
Level: Level 1

Topic: Sale of Goods
Series: NOV 2019

FA – Mar/July 2020 – L1 – SA – Q10 – Recording Financial Transactions (Including Source Documents, Books of Prime Entry, and Cash Books)

Calculating the net amount payable after discounts

Question

Emeka sold 30 units of handsets with a list price of N4,000 per unit to Oluti. He gave Oluti 10% quantity discount and 5% early settlement discount.

If Oluti paid within 30 days payment window, what will be the net amount of the invoice payable by Oluti on the transaction?
A. N120,000
B. N108,000
C. N105,600
D. N102,600
E. N102,000

Answer

Find Related Questions by Tags, levels, etc.

Tags: Calculation, Discount, Early Settlement, Invoice
Level: Level 1

Question Tag: Invoice

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FA – May 2013 – L1 – SA – Q18 – Recording Financial Transactions

This question asks for the cost of goods invoiced at a mark-up.

BL – Nov 2019 – L1 – SA – Q1 – Sale of Goods

Identifying the document a supplier sends to correct an understated invoice

FA – Mar/July 2020 – L1 – SA – Q10 – Recording Financial Transactions (Including Source Documents, Books of Prime Entry, and Cash Books)

Calculating the net amount payable after discounts

FA – May 2013 – L1 – SA – Q18 – Recording Financial Transactions

This question asks for the cost of goods invoiced at a mark-up.

BL – Nov 2019 – L1 – SA – Q1 – Sale of Goods

Identifying the document a supplier sends to correct an understated invoice

FA – Mar/July 2020 – L1 – SA – Q10 – Recording Financial Transactions (Including Source Documents, Books of Prime Entry, and Cash Books)

Calculating the net amount payable after discounts

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FA – May 2013 – L1 – SA – Q18 – Recording Financial Transactions

This question asks for the cost of goods invoiced at a mark-up.

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BL – Nov 2019 – L1 – SA – Q1 – Sale of Goods

Identifying the document a supplier sends to correct an understated invoice

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FA – Mar/July 2020 – L1 – SA – Q10 – Recording Financial Transactions (Including Source Documents, Books of Prime Entry, and Cash Books)

Calculating the net amount payable after discounts

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FA – May 2013 – L1 – SA – Q18 – Recording Financial Transactions

This question asks for the cost of goods invoiced at a mark-up.

You're reporting an error for "FA – May 2013 – L1 – SA – Q18 – Recording Financial Transactions"

BL – Nov 2019 – L1 – SA – Q1 – Sale of Goods

Identifying the document a supplier sends to correct an understated invoice

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FA – Mar/July 2020 – L1 – SA – Q10 – Recording Financial Transactions (Including Source Documents, Books of Prime Entry, and Cash Books)

Calculating the net amount payable after discounts

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