A-LevelAccountingFinancial Statements of Sole TradersMay/June 2012Paper 1 Q51 Mark

A sole trader owns a vehicle valued at $4000 for his own use and a vehicle valued at $2500 for business use. On 1 April 2012 he sold the business vehicle. On the same date he bought a new vehicle for $8000 for his own use and transferred his old vehicle to the business. What is the change in the value of vehicles in the business accounts?

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

The correct answer is A: $1500.

Q: What topic does this question test?

This question tests Financial Statements of Sole Traders in A-Level Accounting (syllabus code 9706). It is worth 1 mark.

A$1500

B$4000

C$5500

D$6500

✓ Correct Answer

The correct answer is A: $1500

📋 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.

🔒

Unlock the Examiner's Analysis

Join thousands of Cambridge students already using Oracle Prep

About This A-Level Accounting Question

Topic

This multiple-choice question tests Financial Statements of Sole Traders in A-Level Accounting (syllabus code 9706). It is worth 1 mark.

Source

This question appeared in the Cambridge A-Level Accounting May/June 2012 examination, Paper 1 Variant 2.

Practice on Oracle Prep

Oracle Prep provides AI-powered practice for all Cambridge O-Level and A-Level subjects. Our platform includes topic predictions with 87.7% accuracy, AI essay grading, and a comprehensive question bank spanning 25 years of past papers across 29 subjects.