O-LevelAccountingVerification of accounting records7707/11 · May/June 2012 · Q161 Mark

Harry's income statement showed a loss for the year of $2040. It was later discovered that motor expenses, $480, had been included in non-current assets. What was the correct loss for the year?

A$1080

B$1560

C$2520

D$3000

✓ Correct answer

C: $2520

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Topic: Verification of accounting records, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2012 Paper 1 Variant 1, question 16.

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