O-LevelAccountingAccounting proceduresOct/Nov 2021Paper 1 Q221 Mark
Anwar is a sole trader making annual profits of $24000. He decides to admit Dilip as a partner. They agree that Anwar would receive a salary, and profits and losses would be shared equally. The forecast appropriation account for the partnership's first year of trading is: [Figure showing table with profit for the year, salary Anwar, profit available for distribution] By how much will Anwar's total income increase?
A$1000
B$6000
C$16000
D$26000
✓ Correct Answer
The correct answer is B. This question tests the candidate's understanding of accounting procedures 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...
🔒
Unlock the Examiner's Answer
Sign up for free to reveal the correct answer, the official mark scheme breakdown, and the examiner trap analysis for this question.
Sign Up Free to Unlock →Join thousands of Cambridge students already using Oracle Prep