O-LevelAccountingPreparation of financial statements7707/11 · Oct/Nov 2019 · Q221 Mark

What will not appear in the financial statements of a club?

Aaccumulated fund

Bdrawings

Cprepaid subscriptions

Dsurplus of income over expenditure

✓ Correct answer

B: drawings

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Topic: Preparation of financial statements, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2019 Paper 1 Variant 1, question 22.

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