O-LevelAccountingAccounting procedures7707/13 · Oct/Nov 2024 · Q261 Mark

What will be included in a receipts and payments account of a social club? 1 cash payment for new furniture for the clubhouse 2 depreciation charged on the clubhouse furniture 3 outstanding subscriptions from the previous year received in the current year 4 subscriptions owed by members at the end of the current year

A1 and 2

B1 and 3

C2 and 4

D3 and 4

✓ Correct answer

B: 1 and 3

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Topic: Accounting procedures, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2024 Paper 1 Variant 3, question 26.

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