O-LevelAccountingPreparation of financial statementsOct/Nov 2019Paper 1 Q211 Mark
Sara and Fatima are in partnership. Sara is entitled to a partnership salary of $30000 per annum and the balance of the profit is shared equally. The profit for the year was $180000. What was Sara's total income from the business?
A$75000
B$90 000
C$105000
D$120000
✓ Correct Answer
The correct answer is C. 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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