Accounting 0452 · IGCSE · Accounting principles

Accounting principles — practice question

Which statement is right?

  • AThe income statement is part of the double entry system and shows a trader’s financial performance.
  • BThe income statement is part of the double entry system and shows a trader’s financial position.
  • CThe statement of financial position is part of the double entry system and shows assets and liabilities only.
  • DThe statement of financial position is part of the double entry system and shows owner’s capital only.

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