O-LevelAccountingAccounting procedures7707/13 · Oct/Nov 2024 · Q301 Mark

Shelley does not maintain a full set of accounting records but was able to provide the following information. sales for the year ended 31 August 2023 (80% of which were on credit) $97 500 amounts received from trade receivables during the year ended 31 August 2023 $71500 amount owing by trade receivables on 31 August 2023 $14000 How much was owed by the trade receivables on 1 September 2022?

A$6500

B$7500

C$12000

D$20 500

✓ Correct answer

B: $7500

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

Topic: Accounting procedures, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2024 Paper 1 Variant 3, question 30.

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