A-LevelAccountingIncome Statement Preparation / Inventory ValuationMay/June 2011Paper 1 Q301 Mark

A business sells goods at a mark up of 33.3%. Information for a year is given. $ revenue 600 000 opening inventory 53 000 closing inventory 68 000 What are the total purchases for the year?

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

The correct answer is D: $465 000.

Q: What topic does this question test?

This question tests Income Statement Preparation / Inventory Valuation in A-Level Accounting (syllabus code 9706). It is worth 1 mark.

A$415 000

B$435 000

C$450 000

D$465 000

✓ Correct Answer

The correct answer is D: $465 000

📋 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 A-Level Accounting Question

Topic

This multiple-choice question tests Income Statement Preparation / Inventory Valuation in A-Level Accounting (syllabus code 9706). It is worth 1 mark.

Source

This question appeared in the Cambridge A-Level Accounting May/June 2011 examination, Paper 1 Variant 2.

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