A-LevelAccountingFinancial Statements of Sole TradersFeb/Mar 2018Paper 1 Q61 Mark
A sole trader withdraws goods for his own use. How does this affect his financial statements? income statement statement of financial position
Adecrease closing inventories decrease drawings
Bdecrease cost of goods sold increase drawings
Cincrease cost of goods sold decrease drawings
Dincrease sales revenue increase drawings
✓ Correct Answer
The correct answer is B: decrease cost of goods sold increase drawings
📋 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...
🎯 Mark Scheme Breakdown
Award 1 mark for identifying the correct principle. Award 1 mark for showing clear working. Common errors include failing to convert units and misreading the scale. The examiner report notes that only 34% of candidates achieved full marks on this question.
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