O-LevelAccountingPreparation of financial statements7707/11 · May/June 2014 · Q171 Mark

What is prepared to show the trading results for a financial year?

Acapital account

Bincome statement

Cstatement of financial position

Dtrial balance

✓ Correct answer

B: income statement

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Topic: Preparation of financial statements, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2014 Paper 1 Variant 1, question 17.

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