A-LevelAccountingAccounting Principles and ConceptsOct/Nov 2024Paper 1 Q11 Mark
A business sells computers. When it values its inventory it excludes the value of the inventory that is more than one year old. This is because it may be obsolete. Which accounting principle does this demonstrate?
Agoing concern
Bhistorical cost
Cprudence
Drealisation
✓ Correct Answer
The correct answer is C. This question tests the candidate's understanding of accounting principles and concepts 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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