A-LevelAccountingFinancial Statements of Sole TradersOct/Nov 2024Paper 1 Q161 Mark
A sole trader's statement of profit or loss shows the following information. opening inventory $5000 operating expenses $3000 profit for the year $5400 Closing inventory is 10% less than opening inventory. All goods sold are marked up by 50%. What were the purchases for the year?
A$10300
B$15700
C$16300
D$17300
✓ Correct Answer
The correct answer is C. This question tests the candidate's understanding of financial statements of sole traders 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