Use the information given below to answer the following questions:
During 2012, Avion Ltd incurred expenses of $250 and earned a net profit of $50. Retained profits at 1 January 2012 stood at $70 and dividends declared and paid totalled $30. At 31 December 2012, liabilities were $200 and share capital $110. There were no transfers to reserves during 2012.
-What were the revenues of Avion Ltd during 2012?
A) $200
B) $250
C) $300
D) $330.

Question

Quizplus · Accepted Answer

Revenues = Expenses + Net profit= $250 + $50= $300

Use the Information Given Below to Answer the Following Questions