O-LevelAccountingVerification of accounting recordsOct/Nov 2022Paper 1 Q101 Mark
$68 paid by credit transfer for insurance was entered in the accounting records as $86. Which double entry will correct this error? account debited $ account credited $ A bank 18 insurance 18 B bank 68 insurance 68 C insurance 18 bank 18 D insurance 68 bank 68
Abank, 18, insurance, 18
Bbank, 68, insurance, 68
Cinsurance, 18, bank, 18
Dinsurance, 68, bank, 68
✓ Correct Answer
The correct answer is A. This question tests the candidate's understanding of verification of accounting records within the Accountingsyllabus. The examiner's mark scheme requires...
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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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