O-LevelAccountingPreparation of financial statements7707/11 · Oct/Nov 2013 · Q241 Mark

At the end of a club's financial year, some members' subscriptions were unpaid. Where would these unpaid subscriptions appear in the club's financial statements?

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AIn income and expenditure account and balance sheet

BIn receipts and payments account and balance sheet

CIn income and expenditure account only

DIn balance sheet only

✓ Correct answer

A: In income and expenditure account and balance sheet

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Topic: Preparation of financial statements, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2013 Paper 1 Variant 1, question 24.

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At the end of a club's financial year, some members' subscriptions were unpaid. Where would these unpaid subscriptions appear in the club's financial statements?

✓ Correct answer

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