O-LevelAccountingAccounting proceduresOct/Nov 2023Paper 1 Q71 Mark
A trader maintains a petty cash book using the imprest system. The imprest amount is $120. The petty cash transactions during the month of June were: [Table with receipt from a customer $21, payments for stationery $25, postage $10, cleaning $20, payment to a supplier $40] How much was given to the petty cashier on 1 July to restore the imprest?
A$46
B$74
C$95
D$120
✓ 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...
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