O-LevelAccountingAccounting proceduresOct/Nov 2023Paper 1 Q191 Mark
A motor van originally cost $11500 and had been depreciated by $9000. The van was sold for $2750. How should the profit or loss on the sale of the van be shown in the disposal account?
A$250 credit
B$250 debit
C$2500 credit
D$2500 debit
✓ 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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