O-LevelAccountingSources and recording of data7707/12 · Oct/Nov 2023 · Q231 Mark

A partner is charged interest on the drawings he made during a financial year. How is this recorded in the partner's accounts?

Acredit the partner's capital account

Bcredit the partner's current account

Cdebit the partner's capital account

Ddebit the partner's current account

✓ Correct answer

D: debit the partner's current account

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

Topic: Sources and recording of data, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2023 Paper 1 Variant 2, question 23.

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