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O-LevelAccountingPreparation of financial statements7707/11 · May/June 2020 · Q211 Mark

At the end of his financial year, Raminder made an adjustment for rent owed by a tenant. How did this affect Raminder's financial statements? profit for current assets the year A decrease decrease B decrease increase C increase decrease D increase increase

Adecrease decrease
Bdecrease increase
Cincrease decrease
Dincrease increase

✓ Correct answer

D: increase increase

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About this question

Topic
Preparation of financial statements, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source
O-Level Accounting, May/June 2020 Paper 1 Variant 1, question 21.

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