A-LevelAccountingIncomplete RecordsMay/June 2022Paper 1 Q131 Mark
A business owner does not maintain a full set of accounting records. At the end of the financial year the following information is available. trade payables opening balance $22500 closing balance $27400 returns outwards $1000 payments to trade payables $110600 There were no cash purchases. The opening and closing inventory has remained at the same amount. What was the amount of the cost of sales?
A$105700
B$106700
C$115500
D$116500
✓ Correct Answer
The correct answer is C. This question tests the candidate's understanding of incomplete records 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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