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?

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

The correct answer is C: $105000.

Q: What topic does this question test?

This question tests Preparation of financial statements in O-Level Accounting (syllabus code 7707). It is worth 1 mark.

A$75000

B$90 000

C$105000

D$120000

✓ Correct Answer

The correct answer is C: $105000

📋 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 Preparation of financial statements in O-Level Accounting (syllabus code 7707). It is worth 1 mark.

Source

This question appeared in the Cambridge O-Level Accounting Oct/Nov 2019 examination, Paper 1 Variant 1.

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