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O-LevelAccountingAccounting procedures7707/11 · May/June 2024 · Q281 Mark

At the end of the financial year, a manufacturing business owed rent on its factory. The business adjusted its financial statements to account for this. What effects did this adjustment have?

Adecrease decrease increase
Bno effect increase decrease
Cno effect no effect decrease
Dincrease increase decrease

✓ Correct answer

B: no effect increase decrease

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About this question

Topic
Accounting procedures, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source
O-Level Accounting, May/June 2024 Paper 1 Variant 1, question 28.

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