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
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
the role of books of prime entry in the recording of business transactions: sales journal, sales returns journal, purchases journal, purchases returns journal, cash book, general journal
the significance of non-financial factors