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O-LevelAccountingPreparation of financial statements7707/11 · Oct/Nov 2014 · Q181 Mark

Which item affects gross profit?

Acarriage outwards
Bdiscounts allowed
Cdiscounts received
Dgoods taken by owner

✓ Correct answer

D: goods taken by owner

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About this question

Topic
Preparation of financial statements, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source
O-Level Accounting, Oct/Nov 2014 Paper 1 Variant 1, question 18.

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