Question 2
Question 2 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
1. The fundamentals of ac...
1.2. The accounting equation

explain the meaning of assets, liabilities and owner’s equity

5. Preparation of financi...
5.1. Sole traders

recognise and define the content of a statement of financial position: non-current assets, intangible assets, current assets, current liabilities, non-current liabilities and capital