O-LevelAccountingThe fundamentals of accounting7707/12 · Oct/Nov 2021 · Q331 Mark

Why would the owner of a business want to see his financial statements at the end of the year? 1 to assess the performance and progress of the business 2 to determine the market value of the non-current assets 3 to make informed decisions for the following years

A1 only

B1 and 3

C2 only

D2 and 3

✓ Correct answer

B: 1 and 3

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Topic: The fundamentals of accounting, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2021 Paper 1 Variant 2, question 33.

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