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WAEC Commerce 2003 Question 16

Question 16

Business Calculations

The rate of turnover of a company in a given year is 4 times while the average stock is N12,400. What is the turnover of the company?

  1. A.N49,600
  2. B.N24,800
  3. C.N6,200
  4. D.N3,100
Show the answer and explanation

Answer: A (N49,600)

Explanation

Rate of turnover = turnover ÷ average stock, so turnover = 4 × 12,400 = N49,600.