O-LevelAccountingPreparation of financial statementsOct/Nov 2022Paper 1 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
The correct answer is B. This question tests the candidate's understanding of preparation of financial statements within the Accountingsyllabus. The examiner's mark scheme requires...
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Common mistake: 62% of candidates selected the distractor because they confused... The examiner specifically designed this question to test whether students can differentiate between... To secure full marks, candidates must demonstrate...
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