A-LevelAccountingCapital and Revenue Expenditure/IncomeOct/Nov 2024Paper 1 Q51 Mark
The draft profit for the year of a business is $53000. During the year, the business acquired new premises and included the following costs in the cost of the premises. $ legal fees 1500 insurance 4500 The business does not charge any depreciation on premises. What is the revised profit for the year?
A$47000
B$48 500
C$51500
D$59 000
✓ Correct Answer
The correct answer is B. This question tests the candidate's understanding of capital and revenue expenditure/income 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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