O-LevelAccountingVerification of accounting recordsOct/Nov 2023Paper 1 Q141 Mark
Jane wished to make a contra entry between a sales ledger account and a purchases ledger account. The credit entry was made correctly but the debit entry was entered in the sales returns account in error. What was the effect of this error?
ATotal purchases ledger balances were overstated.
BTotal purchases ledger balances were understated.
CTotal sales ledger balances were overstated.
DTotal sales ledger balances were understated.
✓ Correct Answer
The correct answer is A. This question tests the candidate's understanding of verification of accounting records 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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