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O-LevelAccountingAccounting proceduresOct/Nov 2022Paper 2 Q320 Marks

The following balances have been taken from the accounts of RB, a trader. 1 April 2021 31 March 2022 $ $ Insurance 2500 prepaid 850 prepaid Commission receivable 700 owing 630 owing The following transactions relate to the year ended 31 March 2022. All receipts and payments were through the bank account. Insurance paid $15300 Insurance refund $600 Commission receivable $7200

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The correct answer is . 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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About This O-Level Accounting Question

This structured question appeared in the Cambridge O-Level Accounting (7707) Oct/Nov 2022 examination, Paper 2 Variant 3. It tests the topic of Accounting procedures and is worth 20 marks.

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