O-LevelAccountingAnalysis and interpretation7707/12 · Oct/Nov 2023 · Q291 Mark

Elaine is starting a business. She wants to make sure she doesn't miss out on any cash discount which is offered to her. Which action would help her achieve this?

Aissuing her invoices promptly

Bmaintaining full accounting records of dealings with suppliers

Cmaking purchases in bulk

Dundertaking credit checks on all prospective customers

✓ Correct answer

B: maintaining full accounting records of dealings with suppliers

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Topic: Analysis and interpretation, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2023 Paper 1 Variant 2, question 29.

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