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O-LevelAccountingThe fundamentals of accounting7707/12 · May/June 2025 · Q351 Mark

Benson wanted to compare his profitability with that of his competitors. However, the completion of his financial statements was significantly delayed due to a fire in the room where the files were kept. What does this delay affect?

Athe comparability of the financial statements
Bthe relevance of the financial statements
Cthe reliability of the financial statements
Dthe understandability of the financial statements

✓ Correct answer

B: the relevance of the financial statements

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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 2, question 35.

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