O-LevelAccountingAnalysis and interpretation7707/11 · Oct/Nov 2011 · Q11 Mark

How should the owner of a business use his annual financial statements?

Ato calculate the cash drawings for the year

Bto determine the amount due to trade payables

Cto measure the change in the bank balance

Dto monitor the progress of the business

✓ Correct answer

D: to monitor the progress of the business

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Topic: Analysis and interpretation, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2011 Paper 1 Variant 1, question 1.

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