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O-LevelAccountingSources and recording of data7707/12 · Oct/Nov 2024 · Q61 Mark

What is an advantage to a business of maintaining books of prime entry?

Atrial balance can be extracted directly from books of prime entry.
BSimilar transactions are listed together in date order for reference.
CThere is no need to make double entries in the ledger.
DTrade receivables and trade payables totals are readily available.

✓ Correct answer

B: Similar transactions are listed together in date order for reference.

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Topic
Sources and recording of data, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source
O-Level Accounting, Oct/Nov 2024 Paper 1 Variant 2, question 6.

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