O-LevelAccountingAccounting procedures7707/12 · Oct/Nov 2018 · Q191 Mark

A trader does not keep full accounting records. How can credit purchases for his first year of trading be calculated?

Acheques paid + discounts received + amount owing to suppliers at year end

Bcheques paid + discounts received – amount owing to suppliers at year end

Ccheques paid – discounts received + amount owing to suppliers at year end

Dcheques paid – discounts received – amount owing to suppliers at year end

✓ Correct answer

A: cheques paid + discounts received + amount owing to suppliers at year end

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Topic: Accounting procedures, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2018 Paper 1 Variant 2, question 19.

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