O-LevelAccountingAccounting procedures7707/11 · May/June 2020 · Q171 Mark

Alice's financial year ends on 31 December. The balances on her books on 1 January 2020 included the following. $ commission receivable 250 debit rent receivable 500 credit What do these balances represent? commission receivable rent receivable A income outstanding income outstanding B income outstanding income prepaid C income prepaid income outstanding D income prepaid income prepaid

Aincome outstanding income outstanding

Bincome outstanding income prepaid

Cincome prepaid income outstanding

Dincome prepaid income prepaid

✓ Correct answer

B: income outstanding income prepaid

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Topic: Accounting procedures, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2020 Paper 1 Variant 1, question 17.

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