O-LevelAccountingVerification of accounting recordsOct/Nov 2021Paper 1 Q121 Mark
The bank statement of a business had a credit balance of $2690 on 1 October 2021. At that date cheques totalling $850 had not yet been presented for payment. What was the bank balance in the cash book on 1 October 2021?
A$1840 credit
B$1840 debit
C$3540 credit
D$3540 debit
✓ Correct Answer
The correct answer is B. This question tests the candidate's understanding of verification of accounting records 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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