Holidays Ltd Manufactures Caravans

question 34

Multiple Choice

Holidays Ltd manufactures caravans. Transactions for the year ended 30 June 2012 were as follows:
(i) 1200 caravans were manufactured at a cost of $15 000 each.
(ii) 1000 caravans were sold for $20 000 each.
(iii) Cash was collected on 950 of the caravans sold.
-What was the reported profit for the year ended 30 June 2012 if revenue was recognised when cash was received?

• A) $5 000 000
• B) $6 000 000
• C) $24 000 000
• D) $4 000 000.

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Definitions:

Peripheral Vision

The ability to see objects and movement outside of the direct line of vision, which is critical for spatial orientation and safety.

Anisocoria

A condition characterized by unequal pupil sizes, which can be a sign of various neurological problems.

Pupils

The central, black circular openings in the iris of the eye, which regulate the amount of light that enters.

Dilated Pupils

The condition of having enlarged pupils, which can occur in response to low light conditions or indicate certain medical conditions.