A-LevelAccountingFinancial Statements of Sole TradersMay/June 2015Paper 1 Q41 Mark
A business started on 1 January 2013. At 31 December 2014 the following information was available. 31 December 2013 31 December 2014 $ $ trade receivables 80000 100 000 increase in provision for doubtful debts in income statement 4000 2000 What is the rate for provision for doubtful debts in 2014?
A2%
B3.33%
C5%
D6%
✓ Correct Answer
The correct answer is D. This question tests the candidate's understanding of financial statements of sole traders 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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