A-LevelAccountingAccruals and PrepaymentsOct/Nov 2020Paper 1 Q91 Mark
Rent is paid by a business monthly in advance on the first day of each month. The payments during a financial year were as follows. up to and including 1 June $500 per month from 1 July $600 per month Which amounts will appear in the financial statements for the year ended 31 October?
Aincome statement $6300, statement of financial position $600 other receivables
Bincome statement $6300, statement of financial position $600 other payables
Cincome statement $6400, statement of financial position –
Dincome statement $6500, statement of financial position –
✓ Correct Answer
The correct answer is C. This question tests the candidate's understanding of accruals and prepayments 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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