O-LevelAccountingPreparation of financial statements7707/11 · Oct/Nov 2019 · Q261 Mark

The following items appeared in the statement of financial position of a limited company. 1 debentures 2 general reserve 3 ordinary share capital 4 retained earnings Which form part of the equity of the company?

A1 and 3 only

B2 and 3 only

C2, 3 and 4

D2 and 4 only

✓ Correct answer

C: 2, 3 and 4

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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 26.

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