A-LevelAccountingFinancial Statements of CompaniesOct/Nov 2022Paper 1 Q191 Mark
X Limited recorded the following information in its books of account. 1 issue of 10000 ordinary shares of $1 each at a price of $1.80 2 payment of dividends, $6200 3 transfer to general reserve, $7500 What was the effect on total revenue reserves?
A$6200 decrease
B$6700 increase
C$8000 increase
D$13700 decrease
✓ Correct Answer
The correct answer is A. This question tests the candidate's understanding of financial statements of companies within the Accountingsyllabus. The examiner's mark scheme requires...
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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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