A-LevelAccountingPreparation of financial statements9706/12 · Oct/Nov 2013 · Q61 Mark

An item can be converted easily into cash. In which section of the statement of financial position would this item appear?

Acapital

Bcurrent assets

Ccurrent liabilities

Dnon-current assets

✓ Correct answer

B: current assets

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Topic: Preparation of financial statements, A-Level Accounting (syllabus 9706). Multiple choice, 1 mark.
Source: A-Level Accounting, Oct/Nov 2013 Paper 1 Variant 2, question 6.

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