O-LevelAccountingSources and recording of dataOct/Nov 2018Paper 1 Q181 Mark
The following entries appeared in a trader's ledger. Dr. drawings account Cr. $ $ purchases 200 Dr. purchases account Cr. $ $ drawings 200 Which transaction has taken place?
AGoods purchased for resale have been paid for from the owner's private bank account.
BThe owner has purchased goods for cash from the business.
CThe owner has taken goods for his own use which the business had purchased for resale.
DThe owner has taken cash out of the business for his own use.
✓ Correct Answer
The correct answer is A. This question tests the candidate's understanding of sources and recording of data 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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