O-LevelAccountingPreparation of financial statementsOct/Nov 2020Paper 1 Q191 Mark
A trader provided the following information. $ capital at 1 October 2019 52000 motor vehicle given to the business by the trader 3500 personal expenses paid out of business bank account 1500 cash drawings made during the year 500 What was the capital at 30 September 2020?
A$46.500
B$50 000
C$53 500
D$55000
✓ 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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