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O-LevelAccountingPreparation of financial statements7707/12 · Oct/Nov 2022 · Q181 Mark

How would current assets be listed if they are arranged in decreasing order of liquidity?

Abank, cash, trade receivables, inventory
Bcash, bank, trade receivables, inventory
Cinventory, trade receivables, bank, cash
Dinventory, trade receivables, cash, bank

✓ Correct answer

B: cash, bank, trade receivables, inventory

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About this question

Topic
Preparation of financial statements, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source
O-Level Accounting, Oct/Nov 2022 Paper 1 Variant 2, question 18.

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