O-LevelAccountingAccounting proceduresOct/Nov 2019Paper 1 Q191 Mark
On 1 April 2018 a trader paid an annual insurance premium of $1800. Which entry will be recorded in the trader's statement of financial position at 31 December 2018?
Aother payables $450
Bother payables $1350
Cother receivables $450
Dother receivables $1350
✓ Correct Answer
The correct answer is C. This question tests the candidate's understanding of accounting procedures 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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