A-LevelAccountingClubs and SocietiesMay/June 2011Paper 1 Q61 Mark
A club charges each of its 100 members an annual subscription of $12. At the end of a year four members had not paid their annual subscription. What will be the entries in the financial statements for subscriptions?
A1152 current asset $48
B1152 current liability $48
C1200 current asset $48
D1200 current liability $48
✓ Correct Answer
The correct answer is C. This question tests the candidate's understanding of clubs and societies 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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