O-LevelAccountingThe fundamentals of accounting7707/13 · Oct/Nov 2022 · Q191 Mark
For which purposes would a trader use his income statement and statement of financial position? 1 to enable decisions to be made about the performance of the business 2 to show the business bank account balance at a given date 3 to show the financial position of the business at a given date 4 to show whether the business made a profit or a loss in the financial year
A1 and 4 only
B1, 3 and 4
C2 and 3 only
D2, 3 and 4
✓ Correct answer
B: 1, 3 and 4
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