O-LevelAccountingPreparation of financial statements7707/11 · May/June 2013 · Q241 Mark

Which will be included in this year's receipts and payments account? 1 depreciation of sports equipment 2 subscriptions prepaid at end of year 3 subscriptions prepaid at start of year 4 proceeds of sale of sports equipment

A1, 2 and 3

B2, 3 and 4

C2 and 4 only

D3 and 4 only

✓ Correct answer

C: 2 and 4 only

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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 24.

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