O-LevelAccountingAnalysis and interpretation7707/11 · May/June 2024 · Q331 Mark

George provided the following information. $ non-current assets 15000 inventory 12000 trade receivables 18000 trade payables 8000 His liquid (acid test) ratio was 1.2:1. What was his bank overdraft?

A$7000

B$15000

C$17000

D$29500

✓ Correct answer

A: $7000

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Topic: Analysis and interpretation, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2024 Paper 1 Variant 1, question 33.

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