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7 ~ Mrs Khan has a credit card. Her statement for April is shown below. What is the opening balance on 1 May? $ 1 April opening balance 500 12 April purchase 120 20 April payment 250 30 April interest charge 40 c $410 D $910 A $290 B $370 15 A wholesaler has the following rates of trade discount. % 0-500 units 20 601-1000 units. 25 1001-1500 units 30 A retailer secures a reduction of $3.75 from an article's list price of $15. What was the size of the order? A 450 units B 800 units © 1200 units D = 2000 units 36 A bank statement for Miss Chang is shown below. Part of the entry for 13" May is missing. occre ——— Bank of Asia Statement for Miss Chang Paid in Paid out Balance 1°" May Balance $560 7” May Cheque $300 $860 9” May DD $180 $680 13" May Cheque $70 0/D 45" May Cheque $130 $60 27” May Cash $250 $310 What is the correct entry for 13" May? A $610 paid in B $610 paid out C $750 paid in D $750 paid out 4 How might customers benefit from loyalty cards provided by retailers? (a) Bonus points can be collected to exchange later for goods. —__ B Customers can make payments in monthly instalments. () They are accepted in more than one type of store. \¢ D They provide purchasing information for retailers. 16 Asschool's monthly statement from a bookseller received on 7” May shows that it owes $800. The cash discount terms are 5% two weeks, 2.5% one month. The account is settled on 28" May. How much cash discount is given? S (*) $20 B $40 (2) $760 D $780 18 Why does a trader exporting goods to another country have more difficulties than a trader selling in the home market A Countries are becoming less dependent on one or ae (BY Excise duties have to be paid on goods leaving the country. RR Quotas on goods may be imposed by the importing country. D_ The goods need to be stored for six months before sale. 5 14 The diagram shows the statement of account for ABC Ltd from New Fashion Wholesalers. STATEMENT OF ACCOUNT New Fashion Wholesalers Crown Avenue To: ABC Ltd Month ending: 31 May 2015 10 Ming Street Singapore Terms: 5% 14 days Date Details Debit Credit Balance $ $ $ 01 May Balance owed 360 0S May Cheque 342 18 Cash Discount 18 Q 10 May Invoice 7891 300 300 21 May Invoice 8234 450 750 27 May Credit Note 40 x What is the balance on 27 May 2015 marked X on the statement of account? A $710 B $750 c $790 D $1050 16 A shop sells a television for $750. The shop had a mark-up of 20% on the television set. What price did the shop pay for the television? A $150 B $600 Cc $625 D $750 4 10 Ageneral wholesaler acts as a middleman between the manufacturer and the retailer. Which function carried out by the wholesaler benefits both the manufacturer and the retailer? A. clearing stocks to enable production to continue giving help and advice on the use of new products >< providing a wide variety of goods x (& taking the risks of losses from unsold goods Vf 43 What would the supplier do when goods have been overcharged on an invoice? ———. — A give a cash discount (®) issue a credit note 7% . 4 IC) provide a new order form D send an advice note @UCLES 2015 7100 2IM/JNS 20 The advertisement shows a world-famous tennis player using a popular brand of sports equipment. All match winners prefer Tenspin Which method of appeal is being used in the advertisement to attract a consumer? @&) ‘ambition B good health 21 Which method of sales promotion would be suitable for increasing the sales of toothpaste for a short period of time? A. after-sales service 7* (8 eompotiion prize draw Cc loyalty/reward programme (Db) money-off coupon ws 40 The table shows the value of Chandyo Manufacturing Company's assets. $ cash 100.000 X debtors. 200000 furniture and equipment 2000000 land 3000000 stock 1000000 vehicles 100000 What is the value of Chandyo Manufacturing Company's fixed assets? ————_— A $5000000 B $5100000 c $6000000 D $6100000 4 The diagram shows the costs involved in making and selling a pair of jeans. manufacturing expenses $5 other materials e.g. Zip, buttons $1 2 metres cloth at $2 per metre distribution expenses $1 selling expenses $2 How much value is added to the two metres of cloth in making the pair of jeans? A $6 B $8 c $9 D $13 16 The cost price of a television is $150. The mark up is 20% of the cost price. — What is the selling price? A 330 ® $120 c $170 (®) s180 ~~ 30 Tariq's new sports car is worth $30 000 but he has insured it for $24 000. Yesterday the car was involved in an accident and will cost $15 000 to repair. _ If Tariq claims on his policy, what is the maximum amount that the insurance company is likely to pay out? A $9000 (2) s12000 iG $15 000 D $18 750 Mey / 31 “Mr Soon has an overdraft limit of $5000. His current account has a credit balance of $300. =— If he draws further cheques totalling $2000, what will be the overdrawn balance on his account? A $300 B $1700 Cc $2300 D $7000 8 One of the advantages of merce is that it enables small firms supplying a specialised market to incfease a To which business would this be most likely to apply? 4 a garage selling parts for classic cars iw) a greengrocer selling local fresh produce C a hairdresser whose lomers are mainly senior citizens. D a tailor providing an aes ie 17 SS Ltd wishes to export its sportswear. It must consider the following factors when researching potential markets. —— climatic conditions cultural requirements language differences ap other factor is most likely to influence its choice of potential markets? ———= A import regulations B number of banks C storage areas © time differences GUCLES 2019 TOON ZIMIIS [Turn over 27 = The following information concerns an insurance company. $m administration costs 10 claims by policy holders 50 interest on investments | premiums received 80 How much is the profit of the insurance company? A 35m (8 )s25m © 40m D $70m 
