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O-LevelAccountingSources and recording of data7707/12 · May/June 2025 · Q31 Mark

Shula's financial year ends on 31 March. On 1 April 2024, there was a credit balance of $100 on Yasmin's account in Shula's purchases ledger. What does this mean?

AShula had paid $100 to Yasmin.
BYasmin had paid $100 to Shula.
CShula owed $100 to Yasmin.
DYasmin owed $100 to Shula.

✓ Correct answer

C: Shula owed $100 to Yasmin.

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About this question

Topic
Sources and recording of data, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source
O-Level Accounting, May/June 2025 Paper 1 Variant 2, question 3.

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