O-LevelAccountingPreparation of financial statements7707/12 · May/June 2024 · Q311 Mark

Miriam does not maintain a full set of accounting records. Only the purchases for the year and asset and liability values at the year end are known. Which financial statements can be prepared using this information? income statement statement of affairs A ✓ ✓ B ✓ X C X ✓ D X X

A✓; ✓

B✓; X

CX; ✓

DX; X

✓ Correct answer

C: X; ✓

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Topic: Preparation of financial statements, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2024 Paper 1 Variant 2, question 31.

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