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O-LevelAccountingPreparation of financial statements7707/11 · May/June 2023 · Q281 Mark

What is included in the income and expenditure account of a tennis club?

Aall amounts received and paid during the year
Ball capital and revenue expenditure incurred during the year
Cthe closing balances on the accumulated fund
Dthe profit for the year from the club's shop

✓ Correct answer

D: the profit for the year from the club's shop

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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 2023 Paper 1 Variant 1, question 28.

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