O-LevelAccountingPreparation of financial statements7707/11 · May/June 2013 · Q211 Mark

Which would not appear in an income statement of a service business?

Ainsurance

Binventory

Crent

Dwages

✓ Correct answer

B: inventory

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Topic: Preparation of financial statements, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2013 Paper 1 Variant 1, question 21.

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