A-LevelAccountingPartnershipsOct/Nov 2017Paper 1 Q161 Mark
A partnership provides the following financial information for the year ended 30 June 2017. [Table: profit from operations $240000, bank interest payable $21000, interest on capital $15000, drawings $50000, partnership salaries $45000] What is the residual balance of profits to be appropriated between the partners?
A$109000
B$154000
C$159000
D$204000
✓ Correct Answer
The correct answer is C. This question tests the candidate's understanding of partnerships 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...
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