O-LevelAccountingThe fundamentals of accountingOct/Nov 2021Paper 1 Q201 Mark
A sole trader paid off the business's overdraft using his own personal funds. How did this affect the statement of financial position? [Figure showing table with liabilities, capital, and assets columns]
Ano effect increase increase
Bdecrease increase increase
Cdecrease increase no effect
Ddecrease no effect increase
✓ Correct Answer
The correct answer is C. This question tests the candidate's understanding of the fundamentals of accounting 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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