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O-LevelAccountingSources and recording of data7707/11 · Oct/Nov 2014 · Q221 Mark

A trader took goods at cost price for his own use. In which account would he make a credit entry?

Adrawings
Binventory
Cpurchases
Dsales

✓ Correct answer

C: purchases

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About this question

Topic
Sources and recording of data, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source
O-Level Accounting, Oct/Nov 2014 Paper 1 Variant 1, question 22.

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