O-LevelAccountingThe fundamentals of accounting7707/12 · May/June 2018 · Q21 Mark

Which group contains only liabilities?

Abank loan, trade payables, prepaid rent

Bbank overdraft, trade payables, unpaid wages

Ctrade payables, cash at bank, unpaid rates

Dtrade payables, inventory, unpaid wages

✓ Correct answer

B: bank overdraft, trade payables, unpaid wages

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Topic: The fundamentals of accounting, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2018 Paper 1 Variant 2, question 2.

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