O-LevelAccountingAccounting procedures7707/12 · May/June 2013 · Q201 Mark

A trader took goods for her own use. How should this be recorded?

Aaccount to be debited: drawings, account to be credited: purchases

Baccount to be debited: drawings, account to be credited: sales

Caccount to be debited: purchases, account to be credited: drawings

Daccount to be debited: sales, account to be credited: drawings

✓ Correct answer

A: account to be debited: drawings, account to be credited: purchases

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Topic: Accounting procedures, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2013 Paper 1 Variant 2, question 20.

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