O-LevelAccountingPreparation of financial statementsOct/Nov 2020Paper 1 Q241 Mark
A sports club was formed on 1 September 2019. What may appear in the receipts and payments account for the year ended 31 August 2020?
Aclosing bank balance
Bclosing inventory of club shop
Cdepreciation of sports equipment
Dsubscriptions in arrears
✓ Correct Answer
The correct answer is A. 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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