A-LevelAccountingThe accounting equation and double entryOct/Nov 2023Paper 1 Q161 Mark
A business sells some inventory for $80 on credit. This originally cost $50. How does this affect the statement of financial position?
Acurrent assets: decrease by $30, owner's capital: decreases by $30
Bcurrent assets: decrease by $30, owner's capital: increases by $30
Ccurrent assets: increase by $30, owner's capital: decreases by $30
Dcurrent assets: increase by $30, owner's capital: increases by $30
✓ Correct Answer
The correct answer is D. This question tests the candidate's understanding of the accounting equation and double entry 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