A-LevelAccountingFinancial StatementsOct/Nov 2025Paper 1 Q141 Mark
A sole trader rented out part of his business office on 1 January 2024 at $500 per month for 24 months. During the year ended 31 December 2024, he received the following amounts: • rent of $5500 • rent deposit of $500 refundable at the end of month 24. Which amounts should be shown in the statement of financial position at 31 December 2024? current assets current liabilities A nil $500 B $500 nil C $500 $500 D $1000 nil
Anil, $500
B$500, nil
C$500, $500
D$1000, nil
✓ Correct Answer
The correct answer is C. This question tests the candidate's understanding of financial statements 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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