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principles of accounts 7110 TEST OCT/NOV 2011

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Salar2011 said:
Super easy if you ask me?
is it!!! i only find difficult in question 1...i dont understand the filling up in the boxes....... except it all the rest of the things are very easy...... omg i wrote the why cash discount is given instead of writing why trade discount is given. i confused it...
any ways ... umm waiting for "GOOD" results.
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Insha allah i will get an A
 
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I would be very grateful if anyone could tell me if loan interest was to be deducted from the net profit in the calculation of profit as a percentage of capital owned in the MCQ question. And was the answer 20%, when capital is 80000, net profit before interest is 18000, interest is 2000 and long term liability is 20000.
 
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For me its not that difficult. Two papers were very easy. I studied this subject for only about 5 months. So I'm happy and hoping for good result. Insha Allah.
 
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