A-LevelAccountingErrors and Suspense AccountsMay/June 2016Paper 1 Q71 Mark
A business omitted discounts allowed of $700 from its trial balance. During the year a machine had been sold for cash of $500 but the only accounting entry made was a debit in the bank account. What is the balance on the suspense account before these errors are corrected?
A$200 debit
B$1200 debit
C$200 credit
D$1200 credit
✓ Correct Answer
The correct answer is A. This question tests the candidate's understanding of errors and suspense accounts 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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