O-LevelAccountingPreparation of financial statements7707/11 · May/June 2017 · Q221 Mark
The financial year of a club ends on 30 April. During the year ended 30 April 2017, the club received an interest-free loan from a member. In which of the club's financial statements will this appear?
Aincome and expenditure account and statement of financial position
Breceipts and payments account and income and expenditure account
Creceipts and payments account and statement of financial position
Dstatement of financial position only
✓ Correct answer
C: receipts and payments account and statement of financial position
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