A-LevelAccountingAccounting Principles and ConceptsMay/June 2013Paper 1 Q51 Mark
What does the application of the accounting principle of consistency ensure?
Athat all losses are provided for
Bthat assets are recorded at their actual cost
Cthat financial statements are produced annually
Dthat profits are calculated the same way each year
✓ Correct Answer
The correct answer is D. This question tests the candidate's understanding of accounting principles and concepts 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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