Question 11
Question 11 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...
5.6. Incomplete records

calculate profit or loss for the year from changes in capital over time

4. Accounting procedures
4.1. Capital and revenue expenditur...

calculate and comment on the effect on profit of incorrect treatment

4. Accounting procedures
4.5. Valuation of inventory

recognise the importance of valuation of inventory and the effect of an incorrect valuation of inventory on gross profit, profit for the year, equity and asset valuation