O-LevelAccountingThe fundamentals of accounting7707/13 · Oct/Nov 2021 · Q261 Mark

What are advantages of keeping a full set of accounting records? 1 Financial statements will be free from errors. 2 It is impossible to make fraudulent entries. 3 More informed decision-making is possible. 4 The calculation of profit is more accurate.

A1 and 2

B1 and 3

C2 and 4

D3 and 4

✓ Correct answer

D: 3 and 4

Practise more questions on this topic

Oracle Prep sorts past-paper questions by topic, so you can drill The fundamentals of accounting and see which topics are most likely to come up next.

About this question

Topic: The fundamentals of accounting, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2021 Paper 1 Variant 3, question 26.

Questions and mark schemes are from past examination papers and remain the copyright of the exam board. How Oracle Prep builds its content

What are advantages of keeping a full set of accounting records? 1 Financial statements will be free from errors. 2 It is impossible to make fraudulent entries. 3 More informed decision-making is possible. 4 The calculation of profit is more accurate.

✓ Correct answer

Practise more questions on this topic

About this question

Related Accounting questions