A-LevelAccountingError Correction and Suspense AccountsMay/June 2020Paper 1 Q51 Mark
A trader's trial balance did not agree at the end of the financial period and a suspense account was opened. The following errors were discovered. 1 No entry had been made in the books of account for a purchase of inventory, $650. 2 Purchase of a vehicle by cheque had been credited to bank but debited to motor expenses. 3 The discount received of $300 had been correctly recorded in the purchases ledger control account and was debited to discount allowed account. 4 The purchases account for the year had been incorrectly totalled. Which errors would affect the suspense account?
A1, 2 and 3
B1 and 3 only
C2 and 4 only
D3 and 4 only
✓ Correct Answer
The correct answer is D. This question tests the candidate's understanding of error correction 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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