A-LevelAccountingPreparation of financial statements9706/12 · Oct/Nov 2022 · Q141 Mark

What is recorded in both the appropriation account and the current accounts of a partnership? 1 drawings 2 interest on drawings 3 interest on capital

A1, 2 and 3

B1 only

C2 and 3 only

D3 only

✓ Correct answer

C: 2 and 3 only

Practise more questions on this topic

Oracle Prep sorts past-paper questions by topic, so you can drill Preparation of financial statements and see which topics are most likely to come up next.

About this question

Topic: Preparation of financial statements, A-Level Accounting (syllabus 9706). Multiple choice, 1 mark.
Source: A-Level Accounting, Oct/Nov 2022 Paper 1 Variant 2, question 14.

Questions and mark schemes are from past examination papers and remain the copyright of the exam board. How Oracle Prep builds its content

Related Accounting questions

Preparation of financial statementsFeb/Mar 20171m

A trial balance showed a provision for doubtful debts as $1350. Trade receivables were $50320 which included a debt o…

Preparation of financial statementsFeb/Mar 20171m

A business provides the following information. Revenue $140000; opening inventory $22000; closing inventory $24500; …

Preparation of financial statementsFeb/Mar 20171m

The draft financial statements of a business show a profit for the year of $64000 before taking account of the follow…

Traditional costing methodsFeb/Mar 20161m

A business produces and sells watches. In 2015, 4000 watches were produced and 3600 watches were sold. Other informat…

Traditional costing methodsFeb/Mar 20161m

Which items are included in the marginal cost of a unit of production?

Traditional costing methodsFeb/Mar 20161m

Which statements about cost-volume-profit analysis are correct? 1 Profits are calculated on an absorption costing bas…

← Browse all past-paper questions