ZIMSEC O-Level Business Enterprise and Skills
7.5.3Financial statements
Financial statements in ZIMSEC O-Level Business Enterprise and Skills: what the syllabus expects you to know, the learning objectives and how to practise.
Subtopic53 practice questions3 lessons
Overview
Forms 2 and 3: the income statement and the statement of financial position.
Learning objectives
What the syllabus expects you to be able to do.
- 7.5.3.1Explain the importance of keeping accurate financial records.
- 7.5.3.2Prepare an income statement.
- 7.5.3.3Draw up a statement of financial position.
Lessons
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Profit and why it matters
25 min
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The income statement (statement of profit or loss)
35 min
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The statement of financial position
35 min
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Sample question
A sample question on this topic. Answer it, check it, then read the worked answer.
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