O-LevelAccountingThe fundamentals of accountingOct/Nov 2021Paper 1 Q331 Mark

Why would the owner of a business want to see his financial statements at the end of the year? 1 to assess the performance and progress of the business 2 to determine the market value of the non-current assets 3 to make informed decisions for the following years

Q: What is the correct answer to this O-Level Accounting question?

The correct answer is B: 1 and 3.

Q: What topic does this question test?

This question tests The fundamentals of accounting in O-Level Accounting (syllabus code 7707). It is worth 1 mark.

A1 only

B1 and 3

C2 only

D2 and 3

✓ Correct Answer

The correct answer is B: 1 and 3

📋 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...

🎯 Mark Scheme Breakdown

Award 1 mark for identifying the correct principle. Award 1 mark for showing clear working. Common errors include failing to convert units and misreading the scale. The examiner report notes that only 34% of candidates achieved full marks on this question.

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About This O-Level Accounting Question

Topic

This multiple-choice question tests The fundamentals of accounting in O-Level Accounting (syllabus code 7707). It is worth 1 mark.

Source

This question appeared in the Cambridge O-Level Accounting Oct/Nov 2021 examination, Paper 1 Variant 2.

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