O-LevelAccountingPreparation of financial statementsOct/Nov 2023Paper 1 Q311 Mark
A business provided the following information. revenue $20000 gross margin 25% profit margin 10% There was no other income. How much were expenses?
A$2000
B$2250
C$3000
D$5000
✓ Correct Answer
The correct answer is C. This question tests the candidate's understanding of preparation of financial statements 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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