Q33 of 7707_s22_qp_12

Question 33

Question 33 of 35

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No letter options?

Older MCQs might not have the typical A, B, C, D choices. They have choices 1, 2, 3, and a combination of them is the answer. Below is the key that maps such combinations to the answer.

A 1, 2 and 3 are correct

B 1 and 2 only are correct

C 2 and 3 only are correct

D 1 only is correct

Topics Tested

5. Preparation of financi...

5.1. Sole traders

explain the importance of preparing income statements and statements of financial position

1. The fundamentals of ac...

1.1. The purpose of accounting

state the purposes of measuring business profit and loss

6. Analysis and interpret...

6.4. Interested parties

explain the uses of accounting information by the following interested parties for decision-making: owners, managers, trade payables, banks, investors, club members, other interested parties such as governments, tax authorities, etc.