O-LevelAccountingSources and recording of data7707/12 · May/June 2021 · Q81 Mark

Which statements about a three-column cash book are correct? 1 It contains ledger accounts for bank and cash. 2 It contains ledger accounts for discounts allowed and received. 3 It records transactions before they are recorded in the ledgers.

A1 and 2

B1 and 3

C2 and 3

D3 only

✓ Correct answer

A: 1 and 2

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Topic: Sources and recording of data, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2021 Paper 1 Variant 2, question 8.

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