O-LevelAccountingAccounting proceduresOct/Nov 2023Paper 1 Q151 Mark
Plant and machinery, $2000, was incorrectly posted to the credit side of the purchases account. The draft profit for the year was $63000. Ignore depreciation. What was the revised profit for the year after the correction of the error?
A$59000
B$61000
C$65.000
D$67000
✓ 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...
📋 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...
🔒
Unlock the Examiner's Answer
Sign up for free to reveal the correct answer, the official mark scheme breakdown, and the examiner trap analysis for this question.
Sign Up Free to Unlock →Join thousands of Cambridge students already using Oracle Prep