Accounting 0452 · IGCSE · Sole traders

Sole traders — practice question

Which parts of a statement of financial position do descriptions 1, 2 and 3 refer to? 1 finance and other resources contributed by the owner 2 amounts due for goods supplied, unpaid expenses and loans advanced to the business 3 property owned by the business, sums owed by customers, unsold goods and cash in the bank

  • A1 assets, 2 capital, 3 liabilities
  • B1 assets, 2 liabilities, 3 capital
  • C1 capital, 2 assets, 3 liabilities
  • D1 capital, 2 liabilities, 3 assets

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