O-LevelAccountingAccounting procedures7707/11 · May/June 2016 · Q181 Mark

What may appear in the income and expenditure account of a sports club?

Adecrease in bank balance during the year

Bincrease in inventory of refreshments

Cpurchase of new sports equipment

Dreceipts from renting out clubhouse

✓ Correct answer

D: receipts from renting out clubhouse

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Topic: Accounting procedures, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2016 Paper 1 Variant 1, question 18.

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