A-LevelAccountingIncomplete RecordsMay/June 2018Paper 1 Q91 Mark
During the financial year a business paid $295000 to its trade payables, after taking a cash discount of $15000. At the start of the year the trade payables balance was $25000. At the end of the year $32000 was owed to trade payables. What was the amount of credit purchases made during the year?
A$288000
B$302000
C$303000
D$317000
✓ Correct Answer
The correct answer is D. This question tests the candidate's understanding of incomplete records within the Accountingsyllabus. The examiner's mark scheme requires...
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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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