◈ Oracle PrepSign Up Free
O-LevelAccountingAccounting principles and policies7707/12 · Oct/Nov 2013 · Q301 Mark

Abdul applies the accounting year principle. Why does he do this?

Ato be able to compare his results with competitors
Bto ensure that all transactions are recorded
Cto ensure that non-current assets are not overvalued
Dto maintain a full set of accounting records

✓ Correct answer

A: to be able to compare his results with competitors

Practise more questions on this topic

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

Sign up free →

About this question

Topic
Accounting principles and policies, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source
O-Level Accounting, Oct/Nov 2013 Paper 1 Variant 2, question 30.

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

Related Accounting questions

Accounting principles and policiesMay/June 20101m

Bi-Appah thinks her business will be worth more when she takes on new, highly skilled staff. Which accounting princip…

Accounting principles and policiesMay/June 20101m

A sole trader purchased the following items from an office supplier. $ calculator 10 computer system 2000 document s…

Accounting principles and policiesMay/June 20111m

An international company has prepared financial statements without including very small items of furniture in its non…

Sources and recording of dataMay/June 20111m

Which is true of a computerised accounting system?

The fundamentals of accountingMay/June 20111m

Which is the accounting equation?

Sources and recording of dataMay/June 20111m

Wayne has sent the following business documents to Len, a customer. $ Jan 1 invoice 250 Jan 12 invoice 370 Jan 14 cr…

← Browse all past-paper questions

© 2026 Oracle Prep