O-LevelAccountingPreparation of financial statements7707/11 · May/June 2016 · Q251 Mark

At the end of the financial year a manufacturer had inventory of finished goods, raw materials and work-in-progress. Which inventories will appear in the manufacturing account?

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Afinished goods: ✓, raw materials: ✓, work-in-progress: ✓

Bfinished goods: , raw materials: ✓, work-in-progress: ✓

Cfinished goods: , raw materials: , work-in-progress: ✓

Dfinished goods: , raw materials: ✓, work-in-progress:

✓ Correct answer

C: finished goods: , raw materials: , work-in-progress: ✓

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Topic: Preparation of financial statements, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2016 Paper 1 Variant 1, question 25.

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At the end of the financial year a manufacturer had inventory of finished goods, raw materials and work-in-progress. Which inventories will appear in the manufacturing account?

✓ Correct answer

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