O-LevelAccountingPreparation of financial statements7707/12 · May/June 2015 · Q31 Mark

Gail's statement of financial position included the following. $ non-current assets 100000 current assets 50000 current liabilities 2000 What was Gail's capital?

A$100000

B$148000

C$150000

D$152000

✓ Correct answer

B: $148000

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Topic: Preparation of financial statements, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2015 Paper 1 Variant 2, question 3.

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