O-LevelAccountingPreparation of financial statementsOct/Nov 2017Paper 1 Q271 Mark
The financial year of AB Limited ends on 30 September. Debenture interest is paid annually in arrears on 1 October each year. Where did debenture interest appear in the financial statements for the year ended 30 September 2017?
Aincome statement: ✓, statement of changes in equity: , statement of financial position: ✓
Bincome statement: , statement of changes in equity: ✓, statement of financial position: ✓
Cincome statement: , statement of changes in equity: , statement of financial position: ✓
Dincome statement: ✓, statement of changes in equity: ✓, statement of financial position:
✓ Correct Answer
The correct answer is A. This question tests the candidate's understanding of preparation 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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