O-LevelAccountingAccounting proceduresOct/Nov 2017Paper 1 Q121 Mark
Ann's financial year ends on 31 August. The annual rates on her shop are $3000. On 1 September 2016 rates prepaid amounted to $750. Rates paid during the year ended 31 August 2017 amounted to $2750. What was the balance brought down on the rates account on 1 September 2017?
A$250 credit
B$250 debit
C$500 credit
D$500 debit
✓ Correct Answer
The correct answer is D. This question tests the candidate's understanding of accounting procedures 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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