O-LevelAccountingAccounting principles and policies7707/12 · Oct/Nov 2012 · Q131 Mark

A wholesaler had the following transactions. sold goods, $30 000, on credit received cheque, $12 000, from sale of old fixtures at book value How would these transactions be classified? revenue receipt $ capital receipt $ A – 42 000 B 12 000 30 000 C 30 000 12 000 D 42 000 –

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A– 42 000

B12 000 30 000

C30 000 12 000

D42 000 –

✓ Correct answer

C: 30 000 12 000

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Topic: Accounting principles and policies, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2012 Paper 1 Variant 2, question 13.

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A wholesaler had the following transactions. sold goods, $30 000, on credit received cheque, $12 000, from sale of old fixtures at book value How would these transactions be classified? revenue receipt $ capital receipt $ A – 42 000 B 12 000 30 000 C 30 000 12 000 D 42 000 –

✓ Correct answer

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