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Financial Forensics · Quiz 2 · 3 Dec 2023 · September 2023 term

Question 23: ABC incorporation is in the business of selling luxury c…

Question 23

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ABC incorporation is in the business of selling luxury cars. The company ended 2022 having a Total Asset of $ 10,000,000 and the Total Liabilities amounting to $ 7,000,000. In the year 2022, the overall cost of goods purchased amounted to $ 2,000,000, other expenses like labour, marketing and distribution amounted to $ 500,000. The company sold their cars at 10% markup. What is the turnover of their capital invested by the shareholders?

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Correct answer: 0.91 (accepted within ±0.01)

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Question 23 of 25 in the IIT Madras BS Financial Forensics (Financial Forensics) Quiz 2 paper sat on 3 Dec 2023, in the September 2023 term (IIT M DEGREE AN2 EXAM QDB2 03 Dec 2023). It carries 1 mark.

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