O-LevelAccountingAccounting principles and policiesOct/Nov 2022Paper 1 Q331 Mark
A business renewed an insurance policy. The total amount paid was charged as an expense in the income statement for the year even though half related to the next financial year. Which accounting principle has not been applied?
Aduality
Bhistoric cost
Cmatching
Dmoney measurement
✓ Correct Answer
The correct answer is C. This question tests the candidate's understanding of accounting principles and policies 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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