O-LevelAccountingAnalysis and interpretation7707/12 · Oct/Nov 2012 · Q291 Mark

What is not included in the calculation of the quick (acid test) ratio?

Abank overdraft

Binventory

Ctrade payables

Dtrade receivables

✓ Correct answer

B: inventory

Oracle Prep sorts past-paper questions by topic, so you can drill Analysis and interpretation and see which topics are most likely to come up next.

Topic: Analysis and interpretation, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2012 Paper 1 Variant 2, question 29.

Questions and mark schemes are from past examination papers and remain the copyright of the exam board. How Oracle Prep builds its content

Ashok provided the following information for the year ended 31 March 2012: $ Revenue (sales) 120 000 Inventory 1 Apr…

Jones is a trader, buying and selling goods on credit. The following balances were available on 30 April 2012. Capita…

A trader prepares financial statements each year. What do these assist the trader to do?

An invoice for stationery, $100, was entered as a credit note. Which entries should be made to correct this error?

What does a debit balance on a sales ledger control account represent?

Which is an intangible asset?