O-LevelAccountingVerification of accounting recordsOct/Nov 2020Paper 1 Q61 Mark
Ziningi prepared a trial balance. The total of the debit column was $225750 and the total of the credit column was $225250. What could explain the difference?
ABank overdraft, $250, was recorded as a debit balance.
BInventory, $500, was included as a debit balance.
CPurchases returns, $250, were included as a credit balance.
DSales returns, $250, were included as a debit balance.
✓ Correct Answer
The correct answer is A. This question tests the candidate's understanding of verification of accounting records within the Accountingsyllabus. The examiner's mark scheme requires...
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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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