O-LevelAccountingAccounting principles and policiesOct/Nov 2020Paper 1 Q331 Mark
The financial statements of a business are prepared on the basis that it will continue to operate for many years into the future. Which accounting principle is being applied?
Abusiness entity
Bgoing concern
Cmoney measurement
Drealisation
✓ Correct Answer
The correct answer is B. This question tests the candidate's understanding of accounting principles and policies 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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