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O-LevelAccountingThe fundamentals of accounting7707/11 · May/June 2011 · Q11 Mark

Businesses make use of both book-keeping and accounting procedures. What is the purpose of book-keeping?

Ato interpret the double entry records
Bto prepare financial statements at regular intervals
Cto record all the financial transactions of the business
Dto summarise the financial position of the business

✓ Correct answer

C: to record all the financial transactions of the business

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About this question

Topic
The fundamentals of accounting, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source
O-Level Accounting, May/June 2011 Paper 1 Variant 1, question 1.

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