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O-LevelAccountingThe fundamentals of accounting7707/12 · May/June 2018 · Q61 Mark

What may a credit balance on a ledger account represent?

Aaccrued income
Basset
Cexpense
Dprepaid income

✓ Correct answer

D: prepaid income

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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 2018 Paper 1 Variant 2, question 6.

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