O-LevelAccountingThe fundamentals of accounting7707/11 · May/June 2025 · Q21 Mark

What are assets? [Table with column headers: 'amounts owed to a business', 'amounts owed by a business', 'items owned by a business']

This question uses a diagram from the original paper, which isn't shown here. Open the full paper from the past papers archive to see it.

Ano, no, yes

Bno, yes, yes

Cyes, no, yes

Dyes, yes, no

✓ Correct answer

C: yes, no, yes

Practise more questions on this topic

Oracle Prep sorts past-paper questions by topic, so you can drill The fundamentals of accounting and see which topics are most likely to come up next.

About this question

Topic: The fundamentals of accounting, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2025 Paper 1 Variant 1, question 2.

Questions and mark schemes are from past examination papers and remain the copyright of the exam board. How Oracle Prep builds its content

What are assets? [Table with column headers: 'amounts owed to a business', 'amounts owed by a business', 'items owned by a business']

✓ Correct answer

Practise more questions on this topic

About this question

Related Accounting questions