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?

Q: What is the correct answer to this A-Level Accounting question?

The correct answer is B: $48 500.

Q: What topic does this question test?

This question tests Capital and Revenue Expenditure/Income in A-Level Accounting (syllabus code 9706). It is worth 1 mark.

A$47000

B$48 500

C$51500

D$59 000

✓ Correct Answer

The correct answer is B: $48 500

📋 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...

🎯 Mark Scheme Breakdown

Award 1 mark for identifying the correct principle. Award 1 mark for showing clear working. Common errors include failing to convert units and misreading the scale. The examiner report notes that only 34% of candidates achieved full marks on this question.

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About This A-Level Accounting Question

Topic

This multiple-choice question tests Capital and Revenue Expenditure/Income in A-Level Accounting (syllabus code 9706). It is worth 1 mark.

Source

This question appeared in the Cambridge A-Level Accounting Oct/Nov 2024 examination, Paper 1 Variant 2.

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