O-LevelAccountingAnalysis and interpretation7707/12 · Oct/Nov 2024 · Q11 Mark

A trader prepares financial statements each year. What do these help the trader to do?

Acalculate the amount owing to credit suppliers

Bcalculate the cash drawings

Ccheck the bank statement balance

Dmake decisions about the future

✓ Correct answer

D: make decisions about the future

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

Topic: Analysis and interpretation, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2024 Paper 1 Variant 2, question 1.

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

Simi had the following assets and liabilities. $ inventory (stock) 6300 trade receivables (debtors) 5000 cash 800 tra…

What is the formula for calculating rate of inventory (stock) turnover?

Zaynah is in business buying and selling goods on credit. The following balances were extracted from her books on 30 …

A sole trader purchased the following items from an office supplier. $ calculator 10 computer system 2000 document sh…

Bi-Appah thinks her business will be worth more when she takes on new, highly skilled staff. Which accounting princip…

A sales ledger control account showed the following. $ opening debit balance 2 000 sales 10 000 receipts from debtor…