O-LevelAccountingThe fundamentals of accountingOct/Nov 2018Paper 1 Q221 Mark

Tariq provided the following information. 31 August 2017 $ 31 August 2018 $ non-current assets 60000 70000 current assets 20000 25000 current liabilities 15000 19000 Tariq's drawings for the year ended 31 August 2018 were $5000. What was the profit for the year ended 31 August 2018?

Q: What is the correct answer to this O-Level Accounting question?

The correct answer is A: $6000.

Q: What topic does this question test?

This question tests The fundamentals of accounting in O-Level Accounting (syllabus code 7707). It is worth 1 mark.

A$6000

B$11000

C$14000

D$16000

✓ Correct Answer

The correct answer is A: $6000

📋 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...

🎯 Mark Scheme Breakdown

Award 1 mark for identifying the correct principle. Award 1 mark for showing clear working. Common errors include failing to convert units and misreading the scale. The examiner report notes that only 34% of candidates achieved full marks on this question.

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About This O-Level Accounting Question

Topic

This multiple-choice question tests The fundamentals of accounting in O-Level Accounting (syllabus code 7707). It is worth 1 mark.

Source

This question appeared in the Cambridge O-Level Accounting Oct/Nov 2018 examination, Paper 1 Variant 1.

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