A-LevelAccountingIncome Statement (Sole Traders)Feb/Mar 2020Paper 1 Q111 Mark
A sole trader makes a profit for the year of $31000, after taking the following items into account. carriage inwards 2600 decrease in provision for doubtful debts 1500 discount received 2000 other expenses 28000 profit on disposal of non-current asset 300 What was the gross profit for the year?
A$55 200
B$55 500
C$56 700
D$57800
✓ Correct Answer
The correct answer is A. This question tests the candidate's understanding of income statement (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...
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