A-LevelAccountingPartnershipsMay/June 2022Paper 1 Q151 Mark
Dua and Noor are in partnership sharing profits and losses equally. They admitted Zee and now share profits and losses in the ratio Dua:Noor:Zee, 2:2:1. On admission of Zee, tangible assets were reduced in value by $20000 and goodwill was valued at $60000, but was not retained in the books of account. What was the net decrease on Noor's capital account?
A$4000
B$8000
C$10000
D$14000
✓ Correct Answer
The correct answer is A. This question tests the candidate's understanding of partnerships 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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