A-LevelAccountingAccounting for Non-Current AssetsOct/Nov 2023Paper 1 Q51 Mark
A used motor vehicle was part exchanged for a new motor vehicle. The balance of the purchase cost of the new motor vehicle was settled by cheque. What were the entries to record the part-exchange value?
Aaccount debited: bank, account credited: disposal
Baccount debited: bank, account credited: motor vehicles
Caccount debited: motor vehicles, account credited: bank
Daccount debited: motor vehicles, account credited: disposal
✓ Correct Answer
The correct answer is D. This question tests the candidate's understanding of accounting for non-current assets 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