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O-LevelAccountingSources and recording of data7707/11 · May/June 2013 · Q41 Mark

Oliver received a statement from Sunway Wholesalers showing a debit balance of $6742. What does this mean?

AGoods, $6742, are to be delivered to Oliver.
BOliver has sent a cheque, $6742, to Sunway Wholesalers.
COliver owes Sunway Wholesalers $6742.
DSunway Wholesalers owe Oliver $6742.

✓ Correct answer

C: Oliver owes Sunway Wholesalers $6742.

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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, May/June 2013 Paper 1 Variant 1, question 4.

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