O-LevelAccountingSources and recording of data7707/11 · May/June 2012 · Q81 Mark

A company began trading on 1 January 2012. During that month, the following transactions took place. received capital from shareholders, $10 000 received goods for resale, $4000 despatched goods to customer, $5000 paid $3000 for goods received What was the total in the bank account on 31 January 2012?

A$7000

B$8000

C$11 000

D$12 000

✓ Correct answer

A: $7000

Oracle Prep sorts past-paper questions by topic, so you can drill Sources and recording of data and see which topics are most likely to come up next.

Topic: Sources and recording of data, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2012 Paper 1 Variant 1, question 8.

Questions and mark schemes are from past examination papers and remain the copyright of the exam board. How Oracle Prep builds its content