The Following Information Relates to SellIT

question 30

Multiple Choice

The following information relates to SellIT:
 5000 units of stock were sold for $10 per unit
 the cost of that stock to SellIT was $4.50 per unit
 other costs incurred during the period totalled $10 000
 proceeds on sale of an item of plant during the period was $2000
 the carrying amount of the plant at the date of disposal was $500.
SellIT would recognise the following amount as revenue for the period:

• A) $27 500
• B) $50 000
• C) $51 500
• D) $52 000

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Definitions:

Chromosomes

Structures within the cell nucleus made of DNA and protein, containing genes that are the blueprint for an organism's traits and functions.

DNA

A molecule that carries the genetic instructions used in the growth, development, functioning, and reproduction of all known living organisms and many viruses.

Chromosome

A thread-like structure of nucleic acids and protein found in the nucleus of most living cells, carrying genetic information in the form of genes.

Nucleus

The membrane-bound organelle in eukaryotic cells that contains genetic material (DNA).