O-LevelAccountingPreparation of financial statements7707/12 · Oct/Nov 2024 · Q251 Mark

Which item is shown in the income statement and in the statement of changes in equity of a limited company?

Aaccrued interest on debentures

Bordinary share dividend paid

Cprofit for the year

Dtransfer to general reserve

✓ Correct answer

C: profit for the year

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Topic: Preparation of financial statements, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2024 Paper 1 Variant 2, question 25.

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