O-LevelAccountingPreparation of financial statementsOct/Nov 2018Paper 1 Q161 Mark
Beth provided the following information at 31 December 2017. $ capital 1 January 2017 26000 profit for the year 3600 drawings 2500 long-term loan 8000 Beth paid a personal cheque to the business on 30 December 2017 amounting to $5000. What was the capital employed on 31 December 2017?
A$24 100
B$32 100
C$35 100
D$40 100
✓ 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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