O-LevelAccountingAccounting principles and policies7707/12 · May/June 2023 · Q141 Mark

A wholesaler had the following transactions. sold goods, $30000, on credit received cheque, $12000, from sale of old fixtures at book value How would these amounts be classified?

Anil 42000

B12000 30000

C30000 12000

D42000 nil

✓ Correct answer

C: 30000 12000

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Topic: Accounting principles and policies, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2023 Paper 1 Variant 2, question 14.

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