A-LevelAccountingFinancial StatementsOct/Nov 2017Paper 1 Q121 Mark
The following information is available for the year ended 31 December 2016. [Table: revenue $75000, purchases $32000, carriage inwards $5400, carriage outwards $4500, inventory at 1 January 2016 $6300, inventory at 31 December 2016 $7600] What was the gross profit for the year ended 31 December 2016?
A$36 300
B$37 200
C$38 900
D$39800
✓ Correct Answer
The correct answer is C. This question tests the candidate's understanding of financial statements within the Accountingsyllabus. The examiner's mark scheme requires...
📋 Examiner Report & Trap Analysis
Common mistake: 62% of candidates selected the distractor because they confused... The examiner specifically designed this question to test whether students can differentiate between... To secure full marks, candidates must demonstrate...
🔒
Unlock the Examiner's Answer
Sign up for free to reveal the correct answer, the official mark scheme breakdown, and the examiner trap analysis for this question.
Sign Up Free to Unlock →Join thousands of Cambridge students already using Oracle Prep