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O-LevelAccountingPreparation of financial statements7707/11 · Oct/Nov 2011 · Q101 Mark

At the end of the financial year there was a debit balance brought down on the office expenses account. In which section of the balance sheet will this be recorded?

Acapital
Bcurrent assets
Ccurrent liabilities
Dnon-current assets

✓ Correct answer

B: current assets

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About this question

Topic
Preparation of financial statements, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source
O-Level Accounting, Oct/Nov 2011 Paper 1 Variant 1, question 10.

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