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O-LevelAccountingAccounting principles and policies7707/11 · May/June 2025 · Q351 Mark

What does the objective of understandability assume users of financial statements will possess?

Afull knowledge of accounting
Bknowledge of book-keeping but not accounting
Cno knowledge of book-keeping or accounting
Dreasonable knowledge of accounting

✓ Correct answer

D: reasonable knowledge of accounting

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About this question

Topic
Accounting principles and policies, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source
O-Level Accounting, May/June 2025 Paper 1 Variant 1, question 35.

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