O-LevelAccountingPreparation of financial statements7707/11 · Oct/Nov 2018 · Q171 Mark

Which businesses do not prepare a trading account section of an income statement? 1 furniture store 2 gym 3 newsagent 4 toy shop 5 window-cleaner

A1 and 2

B2 and 5

C3 and 4

D3 and 5

✓ Correct answer

A: 1 and 2

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Topic: Preparation of financial statements, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2018 Paper 1 Variant 1, question 17.

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