O-LevelAccountingAnalysis and interpretation7707/11 · Oct/Nov 2014 · Q21 Mark

Which are reasons for a trader measuring his profit or loss? 1 to calculate the expenses of running the business 2 to calculate the return on his investment 3 to decide whether to continue in business or close down 4 to see how much can be withdrawn without reducing capital

A1, 2 and 3

B1 and 2 only

C2, 3 and 4

D3 and 4 only

✓ Correct answer

C: 2, 3 and 4

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Topic: Analysis and interpretation, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2014 Paper 1 Variant 1, question 2.

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