Question 1
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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. Financial accounting (...
1.1. Types of business entity

the different types of business entity: sole trader, partnership, limited company (including public limited company (pic))

3. Financial accounting (...
3.3. Business acquisition and merge...

how to prepare journal entries and make entries in the relevant ledger accounts to record the: merger of two or more sole trader businesses to form a partnership or a limited company, merger of a sole trader’s business with an existing partnership to form a new partnership, acquisition of a sole trader’s business or partnership by a limited company

1. Financial accounting (...
1.5. Preparation of financial state...

how to prepare a statement of profit or loss and statement of financial position for a sole trader from full or incomplete accounting records. The business may be a trading or a service business