O-LevelAccountingThe fundamentals of accountingOct/Nov 2023Paper 1 Q211 Mark

What is an advantage of operating as a sole trader?

Q: What is the correct answer to this O-Level Accounting question?

The correct answer is A: being entitled to all profits.

Q: What topic does this question test?

This question tests The fundamentals of accounting in O-Level Accounting (syllabus code 7707). It is worth 1 mark.

Abeing entitled to all profits

Bbeing responsible for all losses

Chaving limited liability

Dhaving unlimited liability

✓ Correct Answer

The correct answer is A: being entitled to all profits

📋 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...

🎯 Mark Scheme Breakdown

Award 1 mark for identifying the correct principle. Award 1 mark for showing clear working. Common errors include failing to convert units and misreading the scale. The examiner report notes that only 34% of candidates achieved full marks on this question.

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About This O-Level Accounting Question

Topic

This multiple-choice question tests The fundamentals of accounting in O-Level Accounting (syllabus code 7707). It is worth 1 mark.

Source

This question appeared in the Cambridge O-Level Accounting Oct/Nov 2023 examination, Paper 1 Variant 3.

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