O-LevelAccountingSources and recording of data7707/12 · May/June 2015 · Q71 Mark

The following account appeared in the books of Mary. Paul account 2015 Debit $ Credit $ Balance $ April 1 Balance 90 90 Dr 14 Sales 150 240 Dr 21 Returns 25 215 Dr 30 Bank 88 127 Dr Discount 2 125 Dr Which statement is correct?

AOn 1 April Paul owed Mary $90.

BOn 14 April Paul sold goods, $150, to Mary.

COn 21 April Mary returned goods, $25, to Paul.

DOn 30 April Mary owed Paul $125.

✓ Correct answer

A: On 1 April Paul owed Mary $90.

Oracle Prep sorts past-paper questions by topic, so you can drill Sources and recording of data and see which topics are most likely to come up next.

Topic: Sources and recording of data, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2015 Paper 1 Variant 2, question 7.

Questions and mark schemes are from past examination papers and remain the copyright of the exam board. How Oracle Prep builds its content