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O-LevelAccountingThe fundamentals of accounting7707/12 · May/June 2018 · Q111 Mark

What are examples of revenue receipts? 1 a cheque received from the sale of a non-current asset at book value 2 a profit made on the sale of a non-current asset 3 a loan from a bank that is repayable in 2020 4 discounts received from credit suppliers for prompt payment

A1 and 3
B1 and 4
C2 and 3
D2 and 4

✓ Correct answer

D: 2 and 4

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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 11.

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