Q10 of 7707_w24_qp_12

Question 10

Question 10 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

3. Verification of accoun...

3.3. Bank reconciliation

update the cash book for bank charges, bank interest paid and received, correction of errors, credit transfers, direct debits, dividends, and standing orders

2. Sources and recording...

2.3. Books of prime entry

explain the dual function of the cash book as a book of prime entry and as a ledger account for bank and cash

3. Verification of accoun...

3.4. Control accounts

prepare purchases ledger and sales ledger control accounts to include credit purchases and sales, receipts and payments, cash discounts, returns, irrecoverable debts, dishonoured cheques, interest on overdue accounts, contra entries, refunds, opening and closing balances (debit and credit within each account)