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O-LevelAccountingThe fundamentals of accounting7707/11 · May/June 2015 · Q11 Mark

How should the owner of a business use his financial statements?

Ato calculate the cash drawings for the year
Bto determine the amount due to trade payables
Cto measure the change in the bank balance
Dto monitor the progress of the business

✓ Correct answer

D: to monitor the progress of the business

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About this question

Topic
The fundamentals of accounting, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source
O-Level Accounting, May/June 2015 Paper 1 Variant 1, question 1.

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