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A-LevelAccountingPreparation of financial statements9706/12 · May/June 2017 · Q71 Mark

The following information is extracted from the statement of financial position of a business at 31 December 2016. $ bank loan (repayable 2025) 16 200 other payables 1880 bank overdraft 11600 capital 20710 drawings 19 100 inventory 14610 other receivables 1420 trade payables 14 110 trade receivables 9050 What is the value of the net current liabilities?

A$1590
B$2510
C$18710
D$20 320

✓ Correct answer

B: $2510

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About this question

Topic
Preparation of financial statements, A-Level Accounting (syllabus 9706). Multiple choice, 1 mark.
Source
A-Level Accounting, May/June 2017 Paper 1 Variant 2, question 7.

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