A-LevelAccountingPreparation of financial statements9706/12 · Feb/Mar 2023 · Q151 Mark

Which items would affect a sole trader's gross profit? 1 carriage inwards 2 cash discounts allowed 3 commission received 4 trade discounts received

A1 and 4

B1 only

C2 and 3

D2 and 4

✓ Correct answer

A: 1 and 4

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Topic: Preparation of financial statements, A-Level Accounting (syllabus 9706). Multiple choice, 1 mark.
Source: A-Level Accounting, Feb/Mar 2023 Paper 1 Variant 2, question 15.

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