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O-LevelAccountingThe fundamentals of accounting7707/13 · Oct/Nov 2023 · Q31 Mark

What could a credit balance on a ledger account represent?

Aaccrued income
Basset
Cexpense
Dprepaid income

✓ Correct answer

D: prepaid income

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About this question

Topic
The fundamentals of accounting, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source
O-Level Accounting, Oct/Nov 2023 Paper 1 Variant 3, question 3.

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