O-LevelAccountingSources and recording of dataOct/Nov 2023Paper 1 Q61 Mark

Andy was a regular customer of Khalid. He bought goods with a list price of $1000 and later paid $760 in full settlement after receiving a discount for prompt payment of 5%. How much trade discount did Andy receive?

Q: What topic does this question test?

This question tests Sources and recording of data in O-Level Accounting (syllabus code 7707). It is worth 1 mark.

A$40

B$190

C$200

D$278

✓ Correct Answer

The correct answer is C: $200

📋 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 Sources and recording of data in O-Level Accounting (syllabus code 7707). It is worth 1 mark.

Source

This question appeared in the Cambridge O-Level Accounting Oct/Nov 2023 examination, Paper 1 Variant 2.

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