O-LevelAccountingAccounting procedures7707/11 · May/June 2022 · Q191 Mark

Which statement about a debts recovered account is correct?

AThe account is used when an amount, previously written off, is received from a customer.

BThe account is used when doubtful debts are recovered.

CThe balance of the account is debited to the income statement at the end of the year.

DThe balance of the account is shown in the statement of financial position.

✓ Correct answer

A: The account is used when an amount, previously written off, is received from a customer.

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Topic: Accounting procedures, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2022 Paper 1 Variant 1, question 19.

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