O-LevelAccountingAccounting proceduresOct/Nov 2022Paper 1 Q261 Mark
A cricket club provided the following information. at 1 August 2021 balance at bank $950 during the year ended 31 July 2022 net receipts from competition $1050 subscriptions received $2500 general expenses paid $1020 insurance paid $500 rent paid $1800 at 31 July 2022 subscriptions owing by members $120 insurance prepaid $20 depreciation of equipment $260 What was the balance at bank on 31 July 2022?
A$920
B$1180
C$1200
D$1300
✓ 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...
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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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