O-LevelAccountingThe fundamentals of accounting7707/12 · May/June 2025 · Q11 Mark

Rikado left his job as a machine operator to start his own manufacturing business. Why was he interested in his financial statements at the end of the first year of business?

Ato ascertain the market value of the non-current assets

Bto check if all the transactions had been recorded

Cto find out about job satisfaction among the workers

Dto see if the profit was greater than his previous earnings

✓ Correct answer

D: to see if the profit was greater than his previous earnings

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

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Rikado left his job as a machine operator to start his own manufacturing business. Why was he interested in his financial statements at the end of the first year of business?

✓ Correct answer

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